State Board of Administration of Florida

The State Board of Administration of Florida (SBA) has a statutory and fiduciary mandate to invest, manage and safeguard assets of the Florida Retirement System (FRS) Trust Fund as well as the assets of a variety of other funds. The SBA manages 25 different investment funds and trust clients.

Trusts are investment responsibilities allowed under law and established pursuant to trust agreements or other forms of consent with individual clients. Three of the SBA's 25 funds are government investment pools that contain the assets of a variety of clients. Twenty-two clients have at least some of their assets in separately managed funds. The remaining clients are invested solely in one or more of the SBA's investment pool products. Pooling smaller portfolios into larger investment funds affords economies of scale and other investment management advantages, enhancing returns for participants.