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Endowment Fund Investment Board tells JFAC its costs are low, requests small equipment funding
Summary
The Endowment Fund Investment Board told the Joint Finance-Appropriations Committee its investment costs run about 0.34% of the fund and requested a minor 2027 enhancement to replace hardware (about $3,700). The board emphasized tight spending and continuous appropriations for external investment costs.
Janet Jessup of Legislative Services introduced the Endowment Fund Investment Board and summarized its role under the State Board of Land Commissioners, noting the board manages land-grant endowments and related accounts and was created by a 1969 constitutional amendment.
Chris Antone, the board's manager of investments, told…
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