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Board of Investments briefs House panel on trust funds, investment transparency
Summary
The Board of Investments’ executive director told the House State Administration committee the board posts holdings information online and described how state trust funds, the short-term investment pool, and real-asset portfolios are managed; he said Bitcoin and precious metals are not held because custody and asset‑liability matching make them unsuitable.
Director Villa, the executive director of the Board of Investments, briefed the House State Administration committee on the board’s responsibilities and where legislators can find trust-fund investment information.
Villa told the committee that his office has fiduciary duties of loyalty, care, prudence and disclosure and that most investment information is publicly available on the board’s website. He said holdings for trust funds are posted semiannually (June 30 and Dec. 31) and that performance reports and separately…
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