Treasurer DeWit Announces Record Value For Arizona Schools’ Endowment Fund

$366.3 MILLION OF FUNDS DISTRIBUTED BY TREASURER’S OFFICE  AS ALL-TIME RECORDS REACHED FOR ARIZONA ENDOWMENT FUND

PHOENIX – The Permanent Land Endowment Trust Fund, also referred to as the Arizona Schools’ Endowment Fund, reached another new milestone under State Treasurer Jeff DeWit growing to $5.61 billion at the end of June 2017, the end of Arizona’s fiscal year.

“I am so proud of our hardworking staff that our record-breaking streak continues. Our conservative in-house investment management philosophy produces great earnings for schools and taxpayers alike,” Treasurer DeWit said, adding “Record funds distributed while still reaching all-time highs in total market value is proof that we are making Arizona’s finances great again!”

In addition to reaching an all-time high market value, the Endowment distributed $289.9 million to beneficiaries last year, the highest earnings distributed amount in Arizona’s history.

All told, $366.3 million has been paid out to beneficiaries and taxpayers in the 2017 fiscal year. The past three fiscal years have produced more than $830 million in distributions compared to the $721.4 million in distributions for the previous six fiscal years combined.

In addition to the $289.9 million distributed to Endowment Beneficiaries, the Treasurer’s Office earned $40 million for state agencies, $19.5 million for the state’s General Fund, and $16.9 million for Local Governments.

The $5.61 billion Endowment had a total investment return of 11.25% in the fiscal year ending June 30, 2017 with a 3-year return of 6.5%, a 5-year return of 9.67% and a 10-year return of 6.56%.

As a statewide constitutional officer, Treasurer DeWit serves as the state’s Banker and Investment Official for the State of Arizona, charged with the prudent custody and management of taxpayer monies and oversight of nearly $15 billion in assets under management.

Please see the attached page for a table of earnings distributed and a chart of Endowment market value.

Earnings Distributed in Millions

Endowment Fund Market Value