KHRT ND News – 03/01/22

KHRT NEWS – TUESDAY – 030122 – 0700
 
BISMARCK, N.D. – Lt. Gov. Brent Sanford, who chairs the State Investment Board (SIB) on behalf of Gov. Doug Burgum, has called a special meeting of the SIB to discuss Legacy Fund investments in Russia in light of the country’s continuing attacks on Ukraine.
 
“North Dakota stands with the freedom-loving people of Ukraine in opposition to the ongoing attacks by Russian armed forces and President Putin,” Burgum said. “We must do our part to limit the financial resources at Russia’s disposal to discourage these unprovoked and heinous acts of aggression.”
 
“North Dakota has received, reviewed and is implementing advice from the U.S. Treasury Department related to investments in Russia,” Sanford said. “The situation is fluid and additional guidance is forthcoming. The State Investment Board will meet Thursday to discuss the evolving situation.”
 
While the state holds a $500,000 bond originally issued by the Russian Federation, it was purchased from a third party on the secondary market, so the proceeds of the sale went to the third party, not the Russian government. The state also has $914,000 in Legacy Fund dollars invested in Gaz Capital, which is 50% owned by the Russian Federation. The U.S. Treasury has advised U.S. investors to cease all secondary exchange transactions involving Russia effective March 1 for bonds “issued after March 1, 2022.”
 
According to the state Retirement and Investment Office (RIO), state investments with Russian entity exposure total $8.5 million from the Legacy Fund, $5.1 million from the pension pool and $2.3 million from the insurance pool – a total of $15.9 million, or less than one-tenth of 1% of the $19.3 billion in total assets under management.
 
The North Dakota Board of University and School Lands (Land Board) also has approximately $28.8 million invested in Russia-based companies, which is equal to less than half of 1% of the board’s total investment assets of more than $6 billion. The Department of Trust Lands and its investment consultant are reviewing the investments and will develop a strategy for the Land Board to consider on how to address the investments.
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GRAND FORKS, N.D. (AP) – Authorities say a man who was shot and injured by two Grand Forks County deputies after pointing a gun at them had broken into a house and scuffled with the residents. The Grand Forks County Sheriff’s Office says Cpl. Brandon Rakoczy and Deputy Dustin Wadholm responded to a report of home invasion and found the suspect trying to steal a pickup. The man ignored repeated commands to drop the gun and then pointed it in the direction of officers. Rakoczy and Wadholm fired at the man, who was struck in the upper left leg. Further investigation revealed that one the homeowners had fired several shots in an effort to force the man out of the home. The suspect eventually took the gun during a struggle.
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MINOT, ND – Trinity Health and Trinity Health Foundation recently appointed a new member to the Foundation’s Board of Directors. Alexa Louser-vonGoltz was appointed to fill a 3-year term on the board. vonGoltz is a Realtor/Broker/Owner at Realty One Group Magnum in Minot. She is originally from South Dakota and has called Minot home for over 10 years. vonGlotz is passionate about giving back to the community and others, leading her to establish a support group for young survivors of breast cancer, and volunteer with the Pursuit Church, Dakota Hope, and Youth for Christ.
 
“It is exciting to have Alexa join the board of directors for the Trinity Health Foundation. As we celebrate our Centennial this year and support the efforts to open the new Trinity Health HealthCare Campus and Medical District next year, Alexa’s leadership on our board will help ensure success into the next 100 years,” said Dusty Zimmerman, Director of Trinity Health Foundation.
 
Trinity Health Foundation was established in 1922 to assist in the establishment of the Trinity Hospital. Over the last 100 years, the
foundation has been supported through the financial stewardship of individuals, families, foundations, corporations, civic clubs, and other organizations, with the purpose of significantly impacting healthcare and the quality of life in the region. Through generous donations, they are able to fulfill the mission of creating a system of care that provides the most significant impact on health and wellness throughout northwest North Dakota.
 
 
 
(Copyright 2022 by The Associated Press. All Rights Reserved.)
 

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