{"data":{"id":"us-nc/n.c.-gen.-stat.-147-69.12","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 147-69.12","heading":"Reporting on the Investment Authority's investment programs.","body":"(a)\tRepealed by Session Laws 2025-6, s. 3.1(b), effective January 1, 2026.\n(a1)\tOn a monthly basis, the Investment Authority shall report on the performance of all investments for which the Investment Authority is in any way responsible. The monthly report shall include all of the following information:\n(1)\tThe beginning and ending market value of each investment program and deposits or withdrawals.\n(2)\tThe rate of return, net of all fees, and expenses for various time periods, including comparisons to an appropriate benchmark, if available. For the Retirement Systems' investment program, asset class level information shall also be provided.\n(3)\tThe asset allocation of each investment program and compliance with any statutory limitations or limitations set by the Board of Directors.\n(4)\tAll of the following information for each investment program:\na.\tThe location on the Investment Authority's website where the public may find a statement of the investment policies.\nb.\tThe location on the Department's or Investment Authority's website where the public may find a list of new commitments to external investment managers and on the use of placement agents by investment managers.\nc.\tAny other information that may be helpful in understanding the Investment Authority's investment policies, investment practices, and investment results.\n(b)\tNo later than the date set by G.S. 147-69.9 for the submission of consolidated stand-alone financial statements, the Investment Authority shall report annually on the fees and performance of all externally and internally managed investments for the Retirement Systems. Externally managed investments shall be reported on the basis of each investment vehicle or investment manager, as applicable. Internally managed investments shall be reported on a portfolio-by-portfolio basis. The Investment Authority's annual report shall include all of the following, as applicable, reported separately for each investment:\n(1)\tThe name, commitment amount, statutory classification, and inception year.\n(2)\tEither a statement that the investment is managed internally by the staff of the Investment Authority or the names of the external investment manager and the investment vehicle for that investment.\n(3)\tThe value of the investment.\n(4)\tThe dollar amount of the management fees and incentive fees.\n(5)\tFor public market investment manager accounts, the periodic net annualized time-weighted rate of return for that fiscal year and since inception, reported net of fees.\n(6)\tFor all investments other than public market investment manager accounts, all of the following:\na.\tThe net annualized internal rate of return and investment multiple since inception, reported net of fees.\nb.\tThe total cash contributions or other investments made.\nc.\tThe total distribution received with respect to that investment since inception, reported net of fees.\n(7)\tRepealed by Session Laws 2025-6, s. 3.1(b), effective January 1, 2026.\n(8)\tIf any placement agent fees relating to the investment were directly or indirectly borne by the Investment Authority or Retirement Systems, a list of the amount and type of those fees.\n(c)\tThe Treasurer shall report to the Governor annually the exact balance in the treasury to the credit of the State, with a summary of the receipts and payments of the treasury during the preceding fiscal year, and so far as practicable an account of the same down to the termination of the current calendar year.\n(d)\tThe reports required by this section shall be delivered to the Joint Legislative Commission on Governmental Operations, chairs of the House of Representatives and Senate Appropriations Committees, chairs of the House of Representative and Senate Finance Committees, Fiscal Research Division, Governor, Council of State, and State Auditor. The reports shall also be made available for public review by the official, institution, board, commission, or other agency investing in the programs, including by posting on the Investment Authority's website. (2016-55, s. 4.1(a), (b); 2017-102, s. 28.1(b); 2017-125, s. 8; 2021-180, s. 37.12(c); 2023-134, s. 27.10(h); 2025-6, ss. 1.1(3), 3.1(b); 2025-25, s. 29(5).)","path":["Chapter 147. State Officers.","Article 6. Treasurer.","Part 3. Reports and Audits."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_147/GS_147-69.12.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:23:17Z","sha256":"e57a0d92bf7dcbf54c372e72653343a23b0f618666a8b49005f2d4f68a5a94a8","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-147-69.11","next":"us-nc/n.c.-gen.-stat.-147-70"},"notice":"GroundRules: Original legal text. Not legal advice."}