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All investments undertaken by the SBI are governed by the Prudent Person Rule and other standards codified in Minnesota Statutes, Chapter 11A and Chapter 356A.
The primary responsibility of the Board is to monitor and evaluate the investment programs as a fiduciary with the goal of making sound investment decisions. The Board delegates responsibility through the retention of the Executive Director, staff, consultants, investment professionals, and with the advisory of various committees.
The SBI Investment Policy Statement incorporates the relevant laws, board policies, resolutions, and standards the guide the management of the SBI's investments.
The primary purpose of the Investment Beliefs is to guide the SBI toward sound investing principles related to investing on behalf of the Combined Funds. In this respect, the Beliefs help provide context for SBI’s actions, reflect SBI’s investment values, and acknowledge SBI’s role in supporting the State’s broader retirement systems. When relevant, the SBI also uses these Beliefs as a guide when investing the assets of the other investment programs that it manages, as deemed appropriate.