Colorado continued to post positive returns on its investment portfolio for the fiscal year ending in June, according to Treasurer Cary Kennedy. The state managed to achieve gains throughout the recession that started in December 2007, she said.
“Despite another turbulent economic year, our state investments continue to show positive earnings,” Kennedy said.
In fiscal year 2010, the state investment pool posted earnings of $133.5 million, resulting in a yield of 2.3% for the fiscal year, exceeding the benchmark by 1.9% said.
The treasurer said cautious investment strategies have been the key to protecting Colorado’s assets.
“Other states took risks with taxpayer funds and chased higher returns,” Kennedy said. “It’s our conservative approach that has protected our funds.”
