SBA Adds $19 Billion in 2010-11 Fiscal Year

On Wednesday, the Florida State Board of Administration (SBA), which handles investments for state employees and retirees, announced that it oversaw solid growth in the Florida Retirement System (FRS) pension fund -- adding morethan $19 billion to its market value in the 2010-2011 fiscal year. By the end of June, the pensions were more than $128.4 billion.

This years performance is a reflection of how the SBA conducts its business; were prudent, were disciplined, and were patient, said Ash Williams, the executive director and chief investment officer for the SBA, in a statement on Wedneday. By staying the course and being able to use strong partnerships to take advantage of market opportunities, the fiscal year-end figure represents a rebound of more than $54 billion from the recent low of $83.3 billion just 27 months earlier.