W.Va. Investments Take a Hit on Wall Street

The Associated Press reports that "while urging a long-term view, state officials predicted Monday that West Virginia's investments will fail to reap their projected 7.5 percent return when the budget year ends June 30."

"The state posted $454.9 million in net losses from its holdings in stocks and bonds during the first half of the fiscal year, " reducing the value of its portfolio 4.1 percent, the article said.

State officials say the multi-year picture for returns remains healthy, noting that last year's return of 17.6 percent helped cap a five-year period at 11.5 percent.

"Over the last five years, IMB has exceeded the median return for all three kinds of investments it handles: domestic stocks, international stocks, and fixed-income securities," officials told AP.