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Board of Investments Director Briefs Committee on Trust Funds, Transparency and Bitcoin Questions
Summary
Dan Villa, executive director of the Montana Board of Investments, told the House State Administration Committee that holdings for state trust funds, the short-term investment pool and separately managed accounts are publicly posted and explained why the board does not currently hold Bitcoin or precious metals in state portfolios.
Director Dan Villa appeared before the House State Administration Committee to give a primer on the Board of Investments’ management of trust funds, the short-term investment pool (STIP) and separately managed accounts.
Villa said the board has fiduciary duties — loyalty, care, confidentiality and prudence — and that most holdings and performance reports are posted online. ‘‘If you ever wanna see the trust fund investment pool's holdings ... you can see on a monthly basis who has what holdings in the trust fund investment pool,’’ Villa said, pointing…
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