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Article: State investment earnings reduced by volatile stock market
- Article from:
- Charleston Gazette
- Article date:
- June 25, 2002
- Author:
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Copyright informationCopyright 2002 Charleston Gazette. Provided by ProQuest LLC. (Hide copyright information)
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fanny@wvgazette.com
Losses in a volatile stock market reduced the West Virginia Board
of Investment Management's earnings to 1.1 percent over the last year
through the end of April, but the board's executive director said
stocks are still the best asset for the long term.
Craig Slaughter said the 1.1 percent equated to $57 million in the
$5.4 billion portfolio that combines state retirement plans, the
Workers Compensation Black Lung fund, other Workers Compensation
funds and the Wildlife Resources Endowment Fund.
Sixty percent of the portfolio is invested in stocks. The other 40
percent is invested in fixed income.
In April, stock investments had a decrease in net assets of $71.67
million ...
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