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Thu April 9, 2009
In a down market, state shifts investments
Cheyenne, WY – Government officials are reviewing the state's investment strategy in light of the declining market.
The State Loan and Investment Board met Thursday in Cheyenne and approved changes to the state's investment portfolio. New portfolio targets reduce the percentage of money invested in equities and increase the percentage of alternative income investments, such as certain types of real estate.
The State Treasurer's Office manages seven non-pension investable funds with a market value of $10.3 billion as of March. That's about $1 billion less than what the state paid.
Also Thursday, the Legislature's Select Committee on Capital Financing and Investments met to review fiscal policies. Rep. Roy Cohee, a Republican from Casper, says he foresees the committee offering more legislative recommendations than it has in the past.