Low-Return Environment: ; State Investment Portfolio Needs More Than Present Stocks, Bonds

Charleston Gazette › April 13, 2004

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Summary

SHOULD the state Investment Management Board's potential investments be broadened and diversified? This is a very important public policy question, and one that members of the board have been studying for the past couple of years.

There is a related and equally important question: How can West Virginia best meet its financial obligation to fund the state's pension plans in the years ahead? In fact, this second question led the board to ask the first question.

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Extract

Low-Return Environment: ; State Investment Portfolio Needs More Than Present Stocks, Bonds

Based on in-depth study and analysis, and the recommendations of the board's outside consultants and leading analysts across the nation, the board has come to the conclusion that in order to (1) provide greater safety and diversification for the assets of the state's pensioners, (2) avoid the likelihood of sub-par investment performance in the years ahead, and (3) provide a bette...

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