By BEN NEARY, Associated Press Writer
CHEYENNE, Wyo. (AP) - Wyoming recouped more than $1 billion in the value of its investment portfolio in 2009. The state now has recovered fully from the paper losses it suffered in the economic downturn.
The Wyoming State Treasurer's Office posted figures this week showing the market value of the state's portfolio is now $11.5 billion. That's about $150 million more than the original cost of the investments.
Early this year, the market value of the state's portfolio had fallen more than $1.3 billion below the original investment cost. Michael Walden-Newman is Wyoming's chief investment officer. He credits the state's recovery to sticking to its investment plan rather than panicking and selling out when the markets were low.