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home : news : state news free February 5, 2016

   
10/17/2013 1:38:00 PM
Treasurer: Varied investments spared state's portfolio

SPRINGFIELD, Ill. (AP) — Illinois state Treasurer Dan Rutherford says mixing up investments in the state’s portfolio spared losses during the federal government shutdown.

The Republican and candidate for governor told reporters today the shutdown raised concerns about U.S. Treasury bills. They’re typically a low-risk, highly liquid investment option. The state currently has $1.2 billion invested in them.

So instead of investing more in T-bills, the state used money market funds, repurchase agreements and commercial paper.

Rutherford says those short-term investments were responding well in the market and yielded very nearly the same as Treasury bills would have.

The treasurer manages a $10 billion state portfolio but needs to have up to $3 billion in liquid assets within 90 days at any time to pay the state’s bills.

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Online: http://www.treasurer.il.gov/


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