The board manages investments for 17 retirement plans for public employees, teachers, school employees, law enforcement officers, firefighters and judges. Assets under management as at March 31, 2018 totalled $129.1 billion. Asset allocation as at March 31 was 34.77 per cent public equity, 16.10 per cent private equity, 31.80 per cent fixed income, 12.95 per cent real estate, 3.07 per cent tangible assets, 1.29 per cent cash, 0.02 per cent innovation. Investment returns of the commingled trust funds are 8.67 per cent since inception in June 1992. Expenses in 2016 were $409.9 million, or 0.35 per cent. International benchmarking studies have consistently ranked the fund as one of the lowest-cost, highest-performing investors in the world.
A big contributor to the long-term top decile performance of the Washington State Investment Board has been its high allocation to private markets. But it is not just the high allocation that sets the fund apart from its peers, it’s also the nature of the relationships with its GPs. Amanda White speaks to retiring CIO Gary Bruebaker about the fund's secret sauce.
Amanda WhiteNovember 6, 2019
Private equity has been a stand out for the $130 billion Washington State Investment Board and CIO Gary Bruebaker says the real trick is attracting the top general partners. That means making sharp investments, being true to your word and nurturing the relationship.
Sarah RundellDecember 19, 2018
Investors say they like to, and want to, focus on the long term, but they often don’t know how to change their practices to orient their governance and investments to do so. Now, finally, a guide has been developed for investors to use as benchmark for implementing strategies for long-term investment. The guide is an […]
Amanda WhiteMarch 18, 2015
Each year www.top1000funds.com interviews CIOs and executive staff of the world’s largest asset owners, gaining insight into their investment strategy, asset allocation and demands from managers. In 2013 funds were focused on costs, increased portfolio look-through, “partnering” with managers and how to position fixed income exposures. This selection of quotes from CIOs of some of […]
Amanda WhiteDecember 20, 2013