State Board of Investment required to develop goals and investment manager policy, waivers and seed-stage commitments authorized, and reports required.
Introduction and first reading, referred to State Government Finance and Policy
Summary
The legislation amends the statutes governing the State Board of Investment, requiring it to create a written policy that sets goals for emerging, diverse, start‑up and franchise investment managers. It also authorizes the board to grant certain waivers and make seed‑stage investment commitments, and mandates annual reports on the cost and performance of any private investment managers it employs. The changes affect the board, public pension funds, and ultimately Minnesota taxpayers and beneficiaries of state‑managed funds.
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