As the U.S. economy shows signs of slowing and market jitters rise over a bubble around artificial intelligence companies, state treasurers tasked with shepherding billions of dollars in public funds say they are safely hedged against any potential market corrections.
In interviews, many treasurers said their investment strategies are pegged to long-term goals, designed to reap cautious returns without overexposure to the marketplace, or to the tech-heavy companies that are delivering the highest returns today — but that carry the highest risk of a downturn tomorrow.
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