MISSION:
To professionally manage the South Dakota Retirement System and South Dakota Cement Plant Retirement Fund portfolios in order to obtain long-term maximum total returns consistent with prudent risk; to professionally manage the state's cash flow fund in order to obtain long-term maximum total returns consistent with the liquidity needs of the fund, the legal list and prudent risk; to professionally manage within the framework established by the South Dakota Investment Council the investment portfolios of the School and Public Lands Fund, the Dakota Cement Trust, the Health Care Trust and the Education Enhancement Trust to obtain the highest risk adjusted return over the long term and to provide income payouts; to oversee the Higher Education Savings Plan per SDCL 13-63-1 to 13-63-31 by establishing the program and monitoring the selected program manager, Allianz Global Investors Distributors LLC; and, to comply with the requirements of SDCL 4-5-12 to 4-5-39, "Investment of State Funds Law".

	ACTUAL FY 2009	ACTUAL FY 2010	BUDGETED FY 2011	REQUESTED FY 2012	GOVERNOR'S RECOMMENDED FY 2012	RECOMMENDED INC/(DEC) FY 2012
FUNDING SOURCE:
General Funds	$0	$0	$0	$0	$0	$0
Federal Funds	0	0	0	0	0	0
Other Funds	5,552,198	5,820,131	8,917,882	9,765,220	9,765,220	847,338
Total	$5,552,198	$5,820,131	$8,917,882	$9,765,220	$9,765,220	$847,338
EXPENDITURE DETAIL:
Personal Services	$4,263,771	$4,484,995	$7,173,564	$7,744,271	$7,744,271	$570,707
Operating Expenses	1,288,427	1,335,135	1,744,318	2,020,949	2,020,949	276,631
Total	$5,552,198	$5,820,131	$8,917,882	$9,765,220	$9,765,220	$847,338
Staffing Level FTE:	27.7	28.0	28.0	28.0	28.0	0.0

	ACTUAL FY 2009	ACTUAL FY 2010	ESTIMATED FY 2011	ESTIMATED FY 2012
REVENUES:
Investment Management Fees:	$0	$0	$0	$0
Retirement System (SDRS)	5,121,712	4,314,676	5,003,384	7,557,304
Cement Plant	33,970	27,801	30,881	46,873
Cash Flow Fund (CFF)	580,583	698,813	800,735	1,209,911
School and Public Lands (S&PL)	118,081	108,178	123,076	185,539
Dakota Cement Trust (DCT)	179,930	155,655	169,619	255,849
Education Enhancement Trust (EET)	262,232	227,174	264,979	400,374
Health Care Trust (HCT)	69,159	61,125	72,302	109,370
Total	$6,365,667	$5,593,422	$6,464,976	$9,765,220
PERFORMANCE INDICATORS:
SDRS Yr-End Assets/Inv Income (Millions)	$5,640/$-1,478	$6,488/$1,050
SDRS Total Fund Return	-20.36%	18.73%
SDRS Capital Mkt Benchmark/Mellon Corp	-18.0%/-17.64%	11.12%/14.49%
CPRF Yr-End Assets/Inv Income (Millions)	$35.6/$-9.3	$39.1/$7.1
CPRF Total Fund Return/Benchmark Return	-19.98%/-17.89%	19.98%/10.83%
CFF Average Amount Invested (Millions)	$966	$1,037
CFF Investment Income (Millions)	$57.6	$50.2
CFF Average Yield/Benchmark Yield	4.51%/1.63%	4.8%/0.2%
S&PL Yr-End Assets/Invest Income (Millions)	$139.1/$-26	$154.9/$19.3
S&PL Total Fund Return/Benchmark Return	-14.6%/-12.7%	13.9%/10.8%
DCT Yr-End Assets/Invest Income (Millions)	$195.0/$-41.7	$211.0/$28.7
DCT Total Fund Return/Benchmark Return	-16.6%/-12.7%	14.3%/10.8%
EET Yr-End Assets/Invest Income (Millions)	$302.5/$-64.5	$341.1/$39.9
EET Total Fund Return/Benchmark Return	-17.5%/-12.6%	13.2%/10.4%
HCT Yr-End Assets/Invest Income (Millions)	$82.3/$-15.0	$93.6/$11.5
HCT Total Fund Return/Benchmark Return	-15.4%/-12.7%	14.0%/10.8%

generated 11/18/10 04:07:49 PM