State Treasurer defends WyoStar II Program

The State’s WyoStar investment programs have recently come under attack, and I would like to share a few facts. 

These programs allow local governments to make institutional-quality investments with fees lower than what large institutional investors typically pay. The State’s manager charges 0.06 percent and independent bond managers charge 0.5-1.0 percent on average. The State is able to minimize fees by combining many smaller accounts (local government entities) together into a larger fund.

These two WyoStar programs have very different profiles. WyoStar I is a short-term, money market type...