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ARTICLE: Joint Committee: After record year, slow growth of state investments to be expected

Charleston Gazette-Mail – West Virginia investments have struggled to stay in positive territory in the first four months of the 2021-22 budget year, something Investment Management Board executive director Craig Slaughter said Tuesday is to be expected, after IMB investments grew by an all-time record of 32.1 percent during fiscal 2020-21.

“When the markets see that rapid movement, it’s not surprising that it stalls out at that point,” Slaughter told the legislative interim Joint Committee on Government and Finance.

For the record year of 2020-21, which ended June 30, state pension fund assets grew from about $16 billion to more than$20 billion, and total assets jumped from $20 billion to $25 billion.

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