July 29, 2009
Despite Exceeding Benchmark Goals State Fired Jackson Equities Manager
By Ben Gose
Wyoming’s extreme focus on income—as opposed to “total return,” the measure that most money managers focus on—can lead to some tortured decisions that may be hampering the long-term growth of the permanent funds.
The statute that created the Wyoming Permanent Minerals Trust Fund required any income [...]
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July 29, 2009
Are Wyoming’s leaders being too conservative with the billions of dollars in our permanent funds?
It sounds like a crazy question to be asking today, as the country muddles through the worst financial crisis since the Great Depression. But at a time when stocks and other assets remain cheap, at least one investment expert in the state believes Wyoming has the opportunity to “buy low” and structure its portfolio in a way that more closely mirrors what nearly all other managers of endowment-type funds are doing.
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