The Treasurer helps to invest and safeguard more than $93 billion in public funds. He is directly responsible for investing funds belonging to nearly all Pennsylvania state agencies, in accordance with state law and Treasury’s Investment Policy.
State funds are invested in a wide range of financial instruments – such as cash equivalents, fixed income, equities, and alternative investments. The Treasurer’s investment authority is contained in Pennsylvania’s Fiscal Code, which requires him to exercise a degree of judgment and care that experienced investors would employ – known as the “Prudent Person” test.
Investments directly managed by Treasury are comprised of over 100 funds. The majority of that money – the Commonwealth’s operating funds – is invested in one of two large investment pools:
*first fiscal year that reporting was required by Act 53 of 2008