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Board hears record Q1 investment earnings; lowers Q2 book‑return target
Summary
Board staff reported roughly $101 million in investment income for Q1 FY25 and the board voted to lower the book‑return target for Oct–Dec 2024 from 3.5–3.6% to 3.4–3.5%, citing Federal Reserve actions and market volatility.
The Arkansas State Board of Finance was told that the state’s investment program produced a record quarterly result in the first quarter of fiscal 2025 and the board voted to modestly lower its near‑term target for book returns.
Steven Kilgore, the investment accounting director, reported that short‑term revenue for the quarter totaled $28,100,000 and long‑term ledger earnings contributed…
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