Nebraska Investment Council, Lincoln, is considering changing its equity mix to an even 50/50 split between domestic and international stocks, confirmed David Bomberger, state investment officer.
Ennis Knupp, the $14.5 billion system’s general investment consultant, recommended the change from its current 75% domestic-25% international mix to better reflect that the U.S. economy makes up less than half of global GDP, Mr. Bomberger said. Ennis Knupp presented an implementation plan to the council at its meeting Tuesday, Mr. Bomberger said, but he would not say if the council decided to approve the plan. The council has 60% of total assets in equities.
Separately, the council committed $20 million to the Quantum Energy Partners V fund and also voted to hire Ennis Knupp as a private real estate consultant, according to recently released minutes of the council’s June 3 meeting. The council’s request to fund real estate consulting services was approved by legislators in the spring, Mr. Bomberger said.
At its June 10 meeting, the council approved a salary increase for Mr. Bomberger, raising his annual salary to $163,000 from $160,000, effective July 1. The council also approved a $7,000 bonus to Mr. Bomberger based on “the exceptional performance of the SIO (state investment officer) during fiscal year 2007-‘08.
