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A report to the Legacy and Budget Stabilization Fund Advisory Board highlighted the progress of the Legacy Fund’s in-state investment program. At the close of the fiscal year, more than $450 million was committed to 40 North Dakota businesses and communities. To tap additional in-state opportunities, the State Investment Board will add another investment manager to the program’s roster next year. 

The Legacy Fund, North Dakota’s sovereign wealth fund, is a strategic asset dedicated to securing long-term financial stability that will allow North Dakotans to benefit from the state’s natural resources for generations to come. With the passage of Measure #3, the fund’s potential is even greater because more dollars can be invested long-term.

SIB members say they fully support transparency in the state’s Legacy Fund but caution that any proposed legislation aimed at the Legacy Fund should avoid harming its stability and growth or jeopardizing its in-state investment program.

The North Dakota State Investment Board is pleased to announce the selection of Weaver’s Asset Management Consulting Services practice to provide investment compliance services.

Gov. Doug Burgum has appointed Alexis Rasset of Mandan, ND, to the Teachers’ Fund for Retirement board of trustees. The seven-member board is responsible for administering the pension program.