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Treasury investment office defends long-term strategy, requests more staff for fixed-income work
Summary
Deputy Treasurer George Naughton and Rex Kim, chief investment officer for the Oregon State Treasury, told the Ways and Means Subcommittee on General Government on April 3 that the agency's investment team manages hundreds of billions of dollars and needs added staff to handle growing fixed‑income and complexity demands.
Deputy Treasurer George Naughton and Rex Kim, chief investment officer for the Oregon State Treasury, told the Ways and Means Subcommittee on General Government on April 3 that the agency's investment team manages hundreds of billions of dollars and needs added staff to handle growing fixed‑income and complexity demands.
The presentation said the Oregon Public Employee Retirement Fund (OPRF) and related portfolios total about $141 billion, with roughly $95 billion in the defined‑benefit program, $36 billion in the Oregon Short Term Fund and other large internal mandates. Kim said the fund's five‑ and ten‑year returns have outperformed a 70/30 stock‑bond reference portfolio, with a rolling five‑year average excess return of about 1.4…
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