According to the agency's chief investment officer, the portfolio had a net return of 12 percent. The agency, which has come under fire in recent years for its investment and operational practices, welcomed the news.
"These impressive gains are a direct result of careful research and analysis by our professional investment staff and consultants," said Marsha Ryan, administrator of the BWC. "They are employing best practices and working closely with the board to make thoughtful investments that are producing profits at a time when similar funds are struggling."
Ryan said the actions of the investment committee over the last two years led to the solid returns. These actions included implementation of a strategy to diversify fixed and equity investments within the State Insurance Fund, a comprehensive update to the fund's investment policy statement, and selection of passive-investment managers to execute the BWC's new investment strategy.
Read more at the WorkersComp Forum homepage.
September 23, 2010
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