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PERS reports small holdings on Iran and Israel-related state lists; no divestment planned
Summary
Staff reported holdings on Mississippis Iran Divestment Act and Israel Support Act lists: a net unrealized loss of about $400,000 on the Iran list and an unrealized gain just over $1,000,000 on the Israel list. Staff said there is no plan or funding to divest.
The committee received an informational update on two state-mandated lists: the Iran Divestment Act (02/2015) and the Israel Support Act (2019). Staff said holdings on these lists have shrunk over time and that the assets PERS holds that appear on the state lists now represent a small portion of the portfolio.
Staff reported that, after netting unrealized gains and losses, holdings on the Iran list show an unrealized loss of nearly $400,000, while holdings on the Israel list show a net unrealized gain of slightly more than $1,000,000. Staff said there is no plan or current funding to divest those holdings and that the report was provided for compliance and transparency.
Trustees asked clarifying questions about the composition and netting of gains and losses. Staff said managers hold these assets under their purview and that staff would continue to report on holdings as required by state law.
