An investment officer shall employ the “prudent person” standard when making investments. Specifically, an investment officer shall: Act with the care, skill, and diligence that a prudent investor acting in a like capacity and familiar with such matters would use considering the circumstances then prevailing; Make investments in a manner designed to reasonably match anticipated cash flow needs so that sufficient funds are available to pay obligations upon proper presentation for payment; Make investments so that a reasonable amount of cash or cash equivalents is available for unanticipated cash needs; Consider the context of the assets available for investment as a whole and as part of an overall investment strategy that incorporates reasonably suitable risk and return objectives; Have due regard for minimizing risk while maximizing return; Use competitive purchasing practices except when impractical; Make investments so that the securities and collateral may continue to be priced on a marked to market basis; Act in a manner designed to diversify investments unless, under the circumstances, it is reasonably determined to be in the best interests of the State or local government not to do so; Act with prudence in deciding whether and how to delegate authority and in the selection and supervision of agents; Incur only costs that are appropriate and reasonable in amount; and Act to avoid the enhancement of the personal financial position of the investment officer or any employee of the State Treasurer or local government unit who has responsibilities for such investments. An investment officer shall comply with the requirements of this chapter and any additional requirements adopted by the State Treasurer in accordance with Regulation .05 of this chapter.