Russian invasion impacts Texas school fund

AUSTIN — The Texas Permanent School Fund has taken a $246 million hit since Russia invaded Ukraine in February, according to state officials.

The House Public Education Committee met Tuesday to discuss how the war has impacted the PSF and potential recommendations on how to move forward.

Holland Timmins, executive administrator and chief investment officer of the Texas Permanent School Fund, said that on Dec. 31, the PSF had $260 million value that includes Russian investments. As of Tuesday, the value was $14 million.

“The challenge, as was said earlier, these emerging markets tend to be more volatile economies, and there have frequently been geopolitical crises in these that have normally worked out,” Timmins said.

Read more: https://www.jacksonvilleprogress.com/news/russian-invasion-impacts-texas-school-fund/article_d310e6aa-b7d9-57e5-a810-0d49389903ba.html