The Uniform Prudent Management of Institutional Funds Act does not expand the scope of standing to allow potential beneficiaries of charitable funds to sue a charity for mismanagement of those funds, an appellate court in Colorado has ruled. It has affirmed a trial court dismissal of a claim by donors to the University of Colorado Foundation that mismanagement had cost the Foundation over $1 billion in unrealized revenue. A group of plaintiffs claimed that the Foundation had invested improperly by using actively managed accounts rather than passive index funds, had overpaid its advisers, and had failed to renegotiate or terminate its investment management contracts. The group included a...