How STRS fared in today's Wall Street nosedive

From Damon Asbury to STRS Board, February 27, 2007 4:20 PM

Subject: FW: Today's equity markets

I asked Steve Mitchell to provide perspective on today’s financial picture and how it impacted STRS Ohio. His analysis is provided below. We will keep you informed on any on-going changes.

Damon
---
Steve Mitchell to Damon Asbury and Senior Staff, February 27, 2007 4:14 PM
Subject: Today's equity markets

As I mentioned at this morning’s Senior Staff meeting, the international equity markets were down sharply (responding to China’s 9% drop) and the US market futures were down also. With Tuesday trading essentially now complete throughout the world: China declined 9%, Japan declined 1%, European markets declined 2.5% to 3.5%, Brazil -6.5%, Mexico -5.75%, and the US market -3.5%. STRS Ohio’s fixed income investments rose in value today and our large cash investments maintained value. Even with this serious one day decline, the STRS Ohio Total Fund has a zero return for the month of February, and the market value of our investment assets remains approximately the same as the January 31st figure of $72.8 billion.

Steve
---
View NY Times article on today's stock market plunge here