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Will they see red at State Investment Board meeting?

The State Board of Investment meets at 9 a.m. Wednesday — in Room 123 of the Capitol — to discuss the billions of dollars invested by the state.

On the SBI website, a chart shows that as of the last quarter (Sept. 30) the state’s basic retirement funds lost $1.7 billion in value, with about a 14 percent loss over the previous year.

These days, that doesn’t seem so bad.

Here’s the agenda:
 
1. Approval of Minutes of September 10, 2008. 
 
2. Report from the Executive Director (Howard Bicker) A
   A. Quarterly Investment Review
 (July 1, 2008 – September 30, 2008)
 
   B. Administrative Report B

1. Reports on budget and travel.
2. Post Retirement Benefit Increase for FY08.
3. FY08 Audit Report.
4. Draft of the FY08 Annual Report.
5. Tentative Meeting Dates for Calendar 2009.
6. Update on Sudan.
7. Litigation Update.
8. Recommendation regarding Target Date Funds for MnSCU Plans.
9. Update on Quarterly Issues:
 Securities Lending
 Rebalancing
 Post Fund
 Cash Management for 457 and Supplementals  Minneapolis Employees Retirement Fund (MERF) asset transfer
 
 
3. Review of manager performance for the period ending C  September 30, 2008.
 
4. Review of current strategy of Alternative Investments. D
 
5. Asset Allocation recommendation for the Combined Funds. E
 
6. Other items.

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