State Investment Board: portfolio steady, SIB watching bond-market risks
David Schumacher of the State Investment Board reported the program's target allocation near 60% fixed income and 40% equity, total fund assets over $2 billion, returns roughly in line with passive benchmarks, and cautioned staff will monitor rising bond yields.
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David Schumacher, representing the State Investment Board, provided a portfolio overview and context for recent returns. He said the investment profile for the portfolio is approximately 60% fixed income and 40% equity and that the total fund managed for the program is now over $2,000,000,000 (roughly $1,000,000,000 fixed income and $800,000,000 equity). Schumacher said returns have been broadly in line with passive benchmarks and that staff are keeping an eye on the bond market as yields rise.
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