Investments 

Breadcrumb

 

ISBI believes that meeting its actuarial return assumption of 7.75% is both desirable and realistic.  The Board manages the assets of the General Assembly Retirement System, Judges' Retirement System, State Employees' Retirement System.  ISBI strives to maximize investment returns in order to meet the long-term liabilities of the State Retirement Systems.  To do so, the Board must achieve a fine balance between the goals of growing the assets of the Fund and keeping risk at a reasonable level.  A key factor shaping the Board's attitude towards risk is the long-term investment horizon of the Fund.  The long-term horizon enables the Fund to tolerate the risk of somewhat volatile investment returns in the short run with the expectation of higher returns in the long run.

The Board is cognizant of the fact that diversification is necessary to reduce unnecessary risk.  Therefore, the Fund will be diversified across several asset classes, securities, and managers.  Selected individual portfolios may be undiversified while maintaining the diversified nature of the total fund.

ISBI believes that it should be open to the use of both active and passive management.  ISBI will consider passive management in areas where the Board concludes that the markets are highly efficient.  Whenever appropriate ISBI will utilize index funds or enhanced index strategies to get broad asset class exposure at low cost.

Both separate and commingled accounts are acceptable investment vehicles.

ISBI believes that securities lending can generate incremental return while taking reasonable risk.

Please note that the numbers in the below attachments are preliminary and subject to change.

Asset Allocation

 Executive Summary

 Investment Income Report

Quarterly Financial Reports

Quarterly Financials as of December 2013

Quarterly Financials as of September 2013

Quarterly Financials as of March 2013

Quarterly Financials as of December 2012

Quarterly Financials as of September 2012

 Quarterly Financials as of March 2012

 Quarterly Financials as of December 2011

 Quarterly Financials as of September 2011

 Quarterly Financials as of June 2011

 Quarterly Financials as of March 2011

 Quarterly Financials as of December 2010

 Quarterly Financials as of September 2010

Purchase and Sales Report

 FY 2014 Third Quarter Purchase and Sales Report 

 FY 2014 Second Quarter Purchase and Sales Report 

 FY 2014 First Quarter Purchase and Sales Report 

 FY 2013 Fourth Quarter Purchase and Sales Report 

 FY 2013 Third Quarter Purchase and Sales Report 

 FY 2013 Second Quarter Purchase and Sales Report 

 FY 2013 First Quarter Purchase and Sales Report 

 FY 2012 Fourth Quarter Purchase and Sales Report 

 FY 2012 Third Quarter Purchase and Sales Report 

 FY 2012 Second Quarter Purchase and Sales Report 

 FY 2012 First Quarter Purchase and Sales Report 

 FY 2011 Fourth Quarter Purchase and Sales Report 

 FY 2011 Third Quarter Purchase and Sales Report 

 FY 2011 Second Quarter Purchase and Sales Report 

 FY 2011 First Quarter Purchase and Sales Report 


Disclosures

Commercial Paper Issuers and Broker Dealers
The Illinois State Board of Investment (ISBI) does not maintain an approved commercial paper issuer listing or an approved broker dealer listing. ISBI’s investment managers have sole discretion in selecting commercial paper issuers and broker dealers to be used as well as the terms and conditions upon which they are engaged. ISBI’s investment managers are expected to select commercial paper issuers and broker dealers that facilitate compliance with ISBI’s policies and investment guidelines as outlined in their investment management agreements with ISBI.

Depository Institutions/Case Management
State Street Bank and Trust


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