August 09, 2007
Thursday

(SitNews) - Gail Schubert, Chair of the Alaska Retirement Management Board (ARMB) announced Wednesday that the ARMB, the governing board for the state's retirement systems, achieved the highest investment returns earned by the retirement funds in the last 20 years.

Schubert said, "According to Gary Bader, our Chief Investment Officer, preliminary data indicate our retirement funds have earned 18.7% for the fiscal year ended June 30," "We knew we were having a good year when our investment consultant, Callan Associates, told the board that as of March 30, our investment returns placed us in the top 5% of public funds in the Callan data base."

According to Schubert, the plan has benefited by investing in multiple asset classes. During fiscal year 2007 the funds invested about 36% of assets in Domestic Equities, 16% in International Equities, 22% in Domestic Fixed Income, and the balance in other asset classes. Bader said for the year ended March 31, 2007 that each of the board's major asset classes out performed those of the average public employer pension plan. "We were hitting on all cylinders last year," Bader said.

The Alaska Retirement Management Board was established by the legislature in 2005 to address the unfunded liabilities of the state retirement funds. The board consists of nine trustees appointed by the Governor.

Source of News:

Alaska Department of Revenue
www.revenue.state.ak.us

 

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