Texas Statutes
Chapter 322 - Legislative Budget Board
Section 322.014. Report on Major Investment Funds

Sec. 322.014. REPORT ON MAJOR INVESTMENT FUNDS. (a) In this section, "state investment fund" means any investment fund administered by or under a contract with any state governmental entity, including a fund:
(1) established by statute or by the Texas Constitution; or
(2) administered by or under a contract with:
(A) a public retirement system as defined by Section 802.001 that provides service retirement, disability retirement, or death benefits for officers or employees of the state;
(B) an institution of higher education as defined by Section 61.003, Education Code; or
(C) any other entity that is part of state government.
(b) The board shall evaluate and publish an annual report on the risk-adjusted performance of each state investment fund that in the opinion of the board contains a relatively large amount of assets belonging to or administered by the state. The board in its report shall:
(1) compare the risk-adjusted performance of the funds; and
(2) examine the risk-adjusted performance, within and among the funds, of similar asset classes and comparable portfolios within asset classes.
(c) Each state governmental entity that administers a state investment fund and each person that administers a state investment fund under contract shall provide the board with the information the board requests regarding the performance of the fund.
(d) The board shall publish the annual report in a format and using terminology that a person without technical investment expertise can understand.
Added by Acts 2001, 77th Leg., ch. 1410, Sec. 1, eff. June 16, 2001.

Structure Texas Statutes