Wednesday, June 19, 2024 - 01:00 am Categories:
SIB News

BISMARCK, ND – North Dakota’s State Investment Board (SIB) is pleased to announce the selection of Verus Advisory Inc. (Verus) to provide comprehensive investment performance measurement and consulting services. 

"Verus’s monitoring of the investment program’s performance helps the State Investment Board ensure the transparency and integrity of the reporting process," said Jan Murtha, Retirement and Investment Office (RIO) executive director. The SIB is responsible for the administration of the State of North Dakota’s investment program. RIO coordinates SIB activities. 

Under this contract, Verus will deliver independent monthly and quarterly analysis and evaluation of the portfolio performance. Additionally, Verus will provide quarterly performance presentations to the SIB and conduct a biennial study of external manager fees. The contract is for a two-year period, with the option to renew for additional two-year periods. 

"We look forward to working with North Dakota’s State Investment Board," said Eileen Neill, Verus managing director/senior consultant. "Verus has a long history of helping institutional investors achieve success, and we are excited to bring that experience to this collaboration." 

Verus, an independent, employee-owned provider of non-discretionary consulting and discretionary management services, brings over 37 years of expertise to the partnership. Verus is dedicated to helping institutional investors achieve their financial goals through objective advice and customized solutions. 

Committed to prudent and effective investment management, the SIB oversees a $21 billion portfolio that includes the assets of North Dakota’s Legacy Fund, Public Employees Retirement System and Teachers’ Fund for Retirement.