Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Board of Investments defends passive indexing, explains ARPA loan rounds and private‑investment allocations
Summary
Director Villa of the Montana Board of Investments told the Senate State Administration Committee on Jan. 14 that the board manages about $28 billion in state assets, uses a diversified portfolio that includes private investments, and pays one basis point for a BlackRock passive index product for domestic equities.
Director Villa, the director of the Montana Board of Investments, told the Senate State Administration Committee on Jan. 14 that the board manages investment pools for the state — including the Consolidated Asset Pension (CAP) pool — and oversees roughly $28 billion in assets across state funds, pensions and trusts.
Villa described the board’s multi-asset strategy and governance: CAP is diversified across domestic and international equities, fixed income (core and non‑core), private investments (via limited partnership structures), real estate, real assets (timber, commodities and energy-related holdings) and a cash allocation for liquidity. He said the board is heavily domestic in its public equity allocation (about 89% U.S. exposure in public markets) and that private investments are an important, higher‑performing long‑term asset…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
