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Board of Investments says it can absorb centralized services; outlines housing-linked deposit and Deer Lodge plans
Summary
Dan Villa, executive director of the Board of Investments, told the subcommittee the board can perform the services it previously bought from the Department of Commerce at lower cost and described how the board is deploying funds for housing through a linked-deposit program and a Deer Lodge employee-housing initiative.
Dan Villa, executive director of the Montana Board of Investments, told the appropriations subcommittee the board is constitutionally charged to manage state assets and can perform centralized services internally at lower cost than the Department of Commerce had billed.
"Our obligations are not political," Villa said, noting the board manages roughly $29.1 billion in assets and has reduced its expense ratio from 0.031% to…
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