Unified Investments

The Unified Investment Program was established by the legislature to create a single agency vested with the authority to invest and manage state funds in accordance with state law and the Montana constitution. The Unified Investment Program has grown from a book value of $321 million at year-end 1972 to a book value of $12.03 billion at year-end 2007, an annual average increase of 10.9 percent. By state law, the Board is required to administer the Unified Investment Program in accordance with the "prudent expert principle", defined as: 1) discharging its duties with the care, skill, prudence, and diligence that a prudent person acting in a like capacity with the same resources and familiar with like matters exercises in the conduct of an enterprise of like character and like aims; 2) diversifying the holdings of each fund to minimize the risk of loss and maximize the rate of return; 3) discharging it duties solely in the interest of and for the benefit of the funds managed.

Montana Board of Investments "Proxy Guidelines - Equities" in PDF Format.

Investment Policy Statements

Montana Domestic Equity Pool Montana International Equity Pool

Quarterly Performance Reports

MBOI Investment Performance Analysis - Quarter ended December 31, 2007

MBOI Investment Performance Analysis - Quarter ended September 30, 2007

MBOI Investment Performance Analysis - Quarter ended June 30, 2007

Prior Month Portfolios

Retirement Funds Bond Pension Funds by Fund
Trust Funds Bond Pool Pension Funds by Assets
Short Term Investment Pool Montana Private Equity Pool
Montana Domestic Stock Pool by Sector Montana Real Estate Pool
Montana Domestic Stock Pool by Manager State Fund
Montana International Stock Pool by Sector Total Portfolio by Account
Montana International Stock Pool by Country Total Portfolio by Type
Montana International Stock Pool by Manager