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Committee asks whether LGIP includes equities; presenter says state manages pool
Summary
Members asked whether the city's LGIP holdings include equities; the presenter said the LGIP is managed by the state of Washington and functions like cash for liquidity, though committee members requested details on composition.
During questions about portfolio composition, a committee member asked whether the LGIP includes equities or other market-exposed vehicles. "It's managed from the state," the chair said, describing the LGIP as similar to cash for liquidity and noting the state of Washington operates the pool.
Members pressed for more detail on LGIP investments and requested staff supply a clearer breakdown. The committee left the item with direction for staff to provide composition details and to include reinvestment updates at the next quarterly meeting.
