Executive Board hear testimony involving investment funds

PIERRE, S.D.(WNAX)- While funds controlled by the South Dakota Investment Council fell about one percent in value in the first six months of the year, that still got high praise from the legislatures Executive Board.

Representative Hugh Bartels of Watertown says that outcome saved a lot of money.

That benchmark fell about thirteen percent.

Bartels says the council also keeps management costs low.

Those in charge of the investments get performance bonuses.
Bartels says those are closely watched.

The Investment Council oversees about nineteen billion dollars in assets, mostly held for state and local government retirees.