Amy Matthews, chief investment officer and assistant state treasurer, told a joint meeting of the Louisiana Board of Regents and the State Board of Elementary and Secondary Education that the Kevin P. Riley Senior Louisiana Education Quality Trust Fund returned 9.25% for the 12 months ending June 30, 2024. "The total return for the whole fund as of June 30th was 9.25%," Matthews said. That performance exceeded a blended benchmark she gave at roughly 8.6%.

Matthews walked board members through the fund's asset mix and recent performance: fixed‑income returns were driven by higher short‑term yields after an inverted yield curve, and equity allocations (including a Vanguard total market sleeve and international holdings) produced strong gains. She said the fund's policy keeps about 35% in equities and described how rebalancing produces realized capital gains or losses that feed the support and permanent accounts.

The presentation also highlighted a sustained decline in royalty receipts tied to oil and gas activity on the outer continental shelf. "The royalties are from the outer continental shelf that we get oil and gas income from," Matthews said, adding that the current royalty stream is well below its long‑run average and that some board members had asked whether proposed federal changes to offshore boundaries could alter those receipts. Matthews said she would consult agency contacts for an assessment if members wanted a formal estimate.

Matthews reviewed cumulative allocations: since inception the fund has directed nearly $3 billion to the state's higher education and K‑12 support accounts, and the permanent corpus and support fund balances were described in the presentation. She also outlined operational details staff are taking if House Bill 712 or other legislation advances, including timing for asset sales and anticipated transfers to support teacher retirement and education excellence accounts.

Board members asked technical questions about benchmarks, asset allocation constraints that are set by statute and policy, and how much of the fund would be available if certain bills pass. Matthews said some allocation rules are constitutionally anchored and that certain proposed changes had failed in prior votes.

The board thanked the treasury team for the briefing and moved on to the day's master‑plan and program items.