Arizona schools’ trust fund has record $6 billion market value
A map of the locations of State Trust Land and Federal Lands in Arizona. via ASLD
State Treasurer Jeff DeWit announced Feb. 27 during the State Board of Investment meeting that the Permanent Land Endowment Trust Fund, also referred to as the Schools’ Trust Fund, has hit a record market value of more than $6 billion.
Even with increased distributions totaling more than $793 million to endowment beneficiaries, which is more than three times that of any previous treasurer, the endowment has grown in excess of $1 billion during Treasurer DeWit’s tenure, according to a press release.
“Credit for this achievement goes to the dedicated work of Senior Portfolio Manager Tim White, who has managed the fund for nearly 20 years, along with the rest of the investment staff and the members of the State Board of Investment,” Mr. DeWit said in the release.
