Governor Ron DeSantis Applauds Record-Breaking Year for Florida's State Board of Administration

TALLAHASSEE, FL - On July 23, 2025, Governor Ron DeSantis highlighted State Board of Administration (SBA) year-end statistics for the 2024-25 Fiscal Year, including the announcement of record-high assets values that have delivered returns to Floridians who rely upon it.

The announcement reinforces Florida’s fiduciary approach to investment management and corporate governance, championed by Governor DeSantis, to protect investments from radical environmental, social, and corporate governance (ESG) considerations, ensuring that all investment decisions focus solely on maximizing the highest rate of return.

“This year’s record results reflect Florida’s commitment to responsible fiscal governance and financial discipline,” said Governor Ron DeSantis. “By focusing on returns, not political agendas, the SBA is securing the future for our law enforcement officers, firefighters, teachers, and taxpayers alike.” 

Key highlights for the 2024-25 Fiscal Year include: 

• Total Assets Under Management (AUM) reached an all-time high of more than $277 billion, reflecting prudent fiscal oversight and strong market performance. 
• The Florida Retirement System Pension Plan reached a peak of over $211 billion during the fiscal year. 
• The Florida Retirement System Investment Plan also posted a record year, with an unaudited market value exceeding $20 billion at fiscal year-end. 
• Florida PRIME, the state’s local government investment pool, reached an unprecedented high of over $34 billion during the year. 

“The State Board of Administration closed out a tremendously successful fiscal year with solid investment performance and significant operational improvements driving efficiency,” said Executive Director of the State Board of Administration Chris Spencer.  “Our industry-leading investment and operations professionals will continue to deliver high quality service for our beneficiaries and the State of Florida in the fiscal year ahead.” 

Florida has implemented a significant geopolitical risk reduction effort to reduce the state’s exposure to investments in state-owned entities and companies affiliated with China, within the Pension Fund portfolio. This move reflects the SBA’s continued focus on managing long-term risk while also balancing the interests of Floridians.

“Today’s announcement reinforces the State Board of Administration’s stature as one of the nation’s leading institutional investment operations,” said Mori Hosseini, member of the SBA Investment Advisory Council. “I am proud to join the Investment Advisory Council as we work to exceed these records and provide financial security and reliability for our retirees and law enforcement officers who rely upon it.”

The SBA is responsible for managing the investment of Florida’s public funds, including the Florida Retirement System, Florida PRIME, and the Hurricane Catastrophe Fund. With more than $277 billion under management, the SBA is one of the largest and most effective public investment agencies in the country—underscoring the SBA’s commitment to safeguarding the financial future of Florida’s public servants and responsibly managing state assets.