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TALLAHASSEE, Fla. ~ TALLAHASSEE, Fla. - In a recent press release, Governor Ron DeSantis announced the State Board of Administration's (SBA) year-end statistics for the 2024-25 Fiscal Year. The report highlighted record-high asset values and strong returns for Floridians who rely on the SBA.
Governor DeSantis praised Florida's fiduciary approach to investment management and corporate governance, which prioritizes maximizing returns over political agendas. This approach has proven successful, with the SBA reporting total assets under management (AUM) reaching an all-time high of over $277 billion.
The Florida Retirement System Pension Plan also saw significant growth, reaching a peak of over $211 billion during the fiscal year. Additionally, the Florida Retirement System Investment Plan posted a record year with an unaudited market value exceeding $20 billion at fiscal year-end. The state's local government investment pool, Florida PRIME, also reached an unprecedented high of over $34 billion.
Executive Director of the State Board of Administration Chris Spencer expressed pride in the SBA's accomplishments, stating that their industry-leading investment and operations professionals will continue to deliver high-quality service for beneficiaries and the state in the upcoming fiscal year.
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In addition to strong financial performance, Florida has implemented measures to reduce geopolitical risk within its investments. This includes reducing exposure to state-owned entities and companies affiliated with China in the Pension Fund portfolio. This move reflects the SBA's commitment to managing long-term risk while balancing the interests of Floridians.
Mori Hosseini, member of the SBA Investment Advisory Council, praised today's announcement as a testament to the SBA's stature as one of the nation's leading institutional investment operations. He expressed his pride in joining the Investment Advisory Council and working towards exceeding these records to provide financial security for retirees and law enforcement officers who rely on it.
The SBA is responsible for managing Florida's public funds, including the Florida Retirement System, Florida PRIME, and the Hurricane Catastrophe Fund. With over $277 billion under management, the SBA is one of the largest and most effective public investment agencies in the country. This further emphasizes their commitment to safeguarding the financial future of Florida's public servants and responsibly managing state assets.
Governor DeSantis concluded by stating that this year's record results reflect Florida's commitment to responsible fiscal governance and financial discipline. He emphasized that by focusing on returns rather than political agendas, the SBA is securing a stable future for law enforcement officers, firefighters, teachers, and taxpayers alike.
Governor DeSantis praised Florida's fiduciary approach to investment management and corporate governance, which prioritizes maximizing returns over political agendas. This approach has proven successful, with the SBA reporting total assets under management (AUM) reaching an all-time high of over $277 billion.
The Florida Retirement System Pension Plan also saw significant growth, reaching a peak of over $211 billion during the fiscal year. Additionally, the Florida Retirement System Investment Plan posted a record year with an unaudited market value exceeding $20 billion at fiscal year-end. The state's local government investment pool, Florida PRIME, also reached an unprecedented high of over $34 billion.
Executive Director of the State Board of Administration Chris Spencer expressed pride in the SBA's accomplishments, stating that their industry-leading investment and operations professionals will continue to deliver high-quality service for beneficiaries and the state in the upcoming fiscal year.
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In addition to strong financial performance, Florida has implemented measures to reduce geopolitical risk within its investments. This includes reducing exposure to state-owned entities and companies affiliated with China in the Pension Fund portfolio. This move reflects the SBA's commitment to managing long-term risk while balancing the interests of Floridians.
Mori Hosseini, member of the SBA Investment Advisory Council, praised today's announcement as a testament to the SBA's stature as one of the nation's leading institutional investment operations. He expressed his pride in joining the Investment Advisory Council and working towards exceeding these records to provide financial security for retirees and law enforcement officers who rely on it.
The SBA is responsible for managing Florida's public funds, including the Florida Retirement System, Florida PRIME, and the Hurricane Catastrophe Fund. With over $277 billion under management, the SBA is one of the largest and most effective public investment agencies in the country. This further emphasizes their commitment to safeguarding the financial future of Florida's public servants and responsibly managing state assets.
Governor DeSantis concluded by stating that this year's record results reflect Florida's commitment to responsible fiscal governance and financial discipline. He emphasized that by focusing on returns rather than political agendas, the SBA is securing a stable future for law enforcement officers, firefighters, teachers, and taxpayers alike.
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