State treasurer: State's $4 billion investment portfolio is secure

(From State Treasurer Clint Zweifel)

State Treasurer Clint Zweifel (ZWY-ful) issued a statement today about the continued strong fiscal health of the state’s $4 billion investment portfolio in light of recent market fluctuation.

“Missourians should be confident in the health of their tax dollars I manage because those dollars are invested with prudence, using fiscally sound financial principles,” Treasurer Zweifel said. “I want Missourians to know our bills will continue to be paid, and the $4 billion investment portfolio continues to be monitored with the utmost care, as it has been since the day I took office. The principles guiding our investments have not changed because they have been sound from day one – I focus on safety through conservative investments and manage liquidity so that our bills are always paid on time. The state’s investment portfolio has not suffered any losses, and I am confident we will not be impacted because of the broad diversity and institutional safety put in place.”

The investment portfolio is made up of funds not currently used to meet the state’s cash flow needs. The investment portfolio consists of the following as of July 31:

U.S. Treasury Debt – 8 percent

U.S. Agency Debt – 51 percent

Repurchase Agreements – 18 percent

Bank Time Deposits – 17 percent

Highly-rated Commercial Paper – 6 percent