SC treasurer to call for more eyes on investments

COLUMBIA, S.C. (AP) — South Carolina Treasurer Curtis Loftis believes financial documents tied to investment decisions of the state’s pension portfolio should be reviewed by more people.

He takes his case Thursday to the Budget and Control Board. The five-member financial oversight panel consists of him, the governor, comptroller general and the Legislature’s chief budget writers.

As treasurer, Loftis is the only elected official on the state Retirement System Investment Commission, which manages the portfolio. Loftis is also the only member without a financial background. Confidentiality agreements require that financial documents related to investment decisions be viewed only by the commission’s staff and six commissioners.

Loftis says his staff should also be able to review the documents.

He contends the state is too heavily invested in alternative investments and pays excessive fees.