South Dakota Investment Council, Sioux Falls, returned -8.65% for the fiscal year ended June 30, confirmed Matt Clark, CIO.
Mr. Clark said the returns were expected, given market conditions, and the council was not planning to make any investment changes. “We’re just going to stick with the long-term plan,” he said.
The retirement system’s asset allocation, as of June 2007, was 53% global equities, 15% fixed income, 11% real estate equity, 8% cash, 7% private equity and 6% miscellaneous, according to the 2008 Money Market Directory, the most recent data available.
The council had total assets of $9.16 billion as of June 30, down 1% from the previous year. The council oversees assets for the South Dakota Retirement System, Pierre, which had $7.3 billion in assets as of June 30, down 10% from a year earlier.
