Monday, February 28, 2011

Miller Names Investment Advisory Committee

Treasurer Ken Miller
State Treasurer Ken Miller today announced appointment of a committee to advise him on investment of the state’s $5 billion investment portfolio.

Miller said the goal of the five-member committee is to examine the state’s portfolio structure and provide recommendations to maximize investment returns given changing market conditions.

“With our macro environment transitioning from a recessionary to a recovering economy, the committee will complete a thorough review of the state’s current investment allocations and make suggestions on how best to restructure our portfolio to maximize the return on the taxpayer’s dollar,” Miller said.

Former State Treasurer Scott Meacham will chair the committee. Other members of the committee include: Bob Neville, Executive Vice President of Investments for BancFirst; Gordon Sellon, PhD, former Federal Reserve economist and professor of economics at Oklahoma City University; Robert Thomas, Chief Investment Officer for George Kaiser Family Foundation and James Wilbanks, PhD, Executive Director of the Oklahoma Teachers Retirement System.

In the current fiscal year, the office is projected to earn $92 million on its investments. Earnings for next fiscal year are estimated to be $96 million.

Miller said the committee held an organizational meeting on Monday in the treasurer’s office. Plans are for the panel to meet monthly for the next year.

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