So....how's STRS investments crew doing lately?

From John Curry, October 14, 2009

[Click image to enlarge]

Well, according to the Ohio Retirement Study Council's report that was released today, not so good. How does next to last (4 out of 5) sound?

The attachment is the summary page of investment performance by all state retirement systems ending 6/30/09. If you wish to access this page (and others) click on the ORSC's website link below:

http://www.orsc.org/uploadpdf/Investment_Review_2Q2009.pdf

In this attached page please follow the "2 quarters" and the "1 Yr." columns down to see how STRS fared in comparison with the "other" state retirement systems. Looks like to me that our outlandish bonuses didn't mean a whole lot, did they?

Let's look at the last 2 quarters "Total Return" figures (ranked by the best performers to the worst performers):

#1 Highway Patrol 5.97
#2 Police & Fire 3.99
#3 PERS 3.05
#4 STRS 2.76
#5 SERS 1.06

Let's look at the last year (1 Yr. column) "Total Return" figures (ranked by the best performers to the worst performers):

#1 Highway Patrol -18.33
#2 PERS -19.34
#3 Police & Fire -20.48
#4 STRS -21.66
#5 SERS -21.81

Keep in mind that only PERS and STRS have "in house" investors and, at STRS, we paid dearly for our investment associates' bonuses, didn't we? Being next to the basement for the last 2 quarters and last year brings no Kudos from this benefits recipient!

Let's watch some folks at STRS try to spin this one! You'll probably hear the "five year excuse" which is:

"You know, we have to take a look at the long term figures."

What they won't say is that short term figures soon (over time) turn into long term figures, don't they?

John