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State Investment Board News |
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 Client fund performance exceeds long-term expectations
RIO is pleased that our client fund performance continues to perform well compared to long-term expectations, and the portfolios continue to generate five-year excess returns vs the passive policy benchmarks.
Over the five-year period ending June 30, 2024, the Public Employees Retirement System (PERS), Teachers' Fund for Retirement (TFFR), Legacy Fund, and Workforce Safety & Insurance (WSI) funds generated net investment returns of 7.6%, 7.4%, 6.6% and 3.2%, respectively. The PERS fund outperformed its policy benchmark by 0.4%, the TFFR fund outperformed its policy benchmark by 0.5%, Legacy outperformed its benchmark by 0.8% and the WSI fund outpaced its policy benchmark by 0.6%.
The funds in RIO's care are invested with a long-term view in mind, expecting some years to have lower returns and other years to have higher returns. We apply a diligent investment process that allocates the funds to balance risks under an assumed range of return scenarios and to select, size and monitor manager mandates in a sound fiduciary manner.
Performance reports for the Legacy Fund and all of RIO's client funds are available online.
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RIO to host "Optimizing returns for North Dakota's future"
The Retirement and Investment Office will host "Optimizing Returns for North Dakota’s Future," its inaugural investment seminar, on Sept. 25, 2024, in Bismarck, ND. The seminar is designed to provide attendees with a comprehensive understanding of North Dakota's investment strategies and economic development programs. READ MORE
Certificate for Execellence in Financial Reporting earned
The Retirement and Investment Office has been honored with the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada. READ MORE
Legacy Fund tops $10 billion
In May, the North Dakota Retirement and Investment Office reported that the Legacy Fund, the state’s sovereign wealth fund, had topped $10 billion. READ MORE
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Join us for NDRIO's Investment Seminar on Sept. 25, 2024
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Verus selected as performance consultant
North Dakota’s State Investment Board is pleased to announce the selection of Verus Advisory Inc. to provide comprehensive investment performance measurement and consulting services. READ MORE
Weaver selected for investment compliance services
The North Dakota State Investment Board is pleased to announce the selection of Weaver’s Asset Management Consulting Services practice to provide investment compliance services. READ MORE
SIB approves policies, adds three new clients
At its May meeting, the State Investment Board approved the Investment Policy Statements of three new clients - the Water Projects Stabilization Fund, the Opioid Settlement Fund, and the State Historical Society of North Dakota Endowment Funds. READ MORE
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State Investment Board
Lt. Gov. Tammy Miller, chair, ex officio
member / governor appointee
Dr. Rob Lech, vice chair, Teachers' Fund
for Retirement board appointee
State Treasurer Thomas Beadle, ex officio
member
Rep. Glenn Bosch, Legacy & Budget
Stabilization Fund board appointee
University & School Lands Commissioner
Joseph Heringer, ex officio member
Sen. Jerry Klein, Legacy & Budget
Stabilization Fund board appointee
Pete Jahner, governor appointee/
institutional investments
Cody Mickelson, Teachers' Fund for
Retirement board appointee
Adam Miller, Public Employees Retirement
System board appointee
Joe Morrissette, Public Employees
Retirement System board appointee
Dr. Prodosh Simlai, governor appointee/
institutional investments
Office of Management & Budget Director
Susan Sisk, ex officio member
Workforce Safety & Insurance Director Art
Thompson, ex officio member
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SIB's administrative staff
Jan Murtha, executive director
Scott M. Anderson, chief investment officer
Eric Chin, deputy chief investment officer
Nitin Vaidya, chief risk officer
Chirag Gandhi, portfolio manager
Derek Dukart, senior analyst
George Moss, portfolio manager
Matt Posch, portfolio manager
Jason Yu, risk analyst
Lance Ziettlow, portfolio manager
Ryan Skor, chief financial officer/
chief operating officer
Rachel Kmetz, fiscal and investment
operations manager
Sarah Mudder, communications and
outreach director
Jennifer Ferderer, fiscal investment admin
Missy Kopp, executive assistant
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Other forms of this newsletter are available upon request.
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RIO's mission: "To provide prudent and transparent investment services for our client funds and support North Dakota public school educators with responsible benefit administration." |
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