General Fund and Other Non-segregated Investments (GeFONSI)
The GeFONSI is an acronym which stands for the “General Fund and Other Non-segregated Funds” which are funds that have been pooled together for investment purposes. The Treasury Division is responsible for investing the GeFONSI as well as calculating and allocating the monthly investment earnings to the GeFONSI fund participants. The current Market Value and target asset allocation of the GeFONSI are shown on the adjoining charts.
In January 2018 the GeFONSI was split into two separate accounts at the custodial bank. The GeFONSI 1 retained the original GeFONSI's asset allocation and is comprised of the General Fund and all Type 1 Funds. The GeFONSI 2 has a slightly more aggressive asset allocation and is comprised of all other GeFONSI funds.
Participant funds within the GeFONSI are classified into one of three categories as follow:
Type 1: Some of the individual funds whose assets are invested in the GeFONSI are legally entitled to automatically receive earnings attributable to the investment of those assets.
Type 2: Other funds invested in the GeFONSI are entitled to receive the earnings attributable to the investment of their assets if the Legislature chooses to appropriate the earnings to those funds. If the Legislature does not so appropriate, then the State’s General Fund receives the earnings from those assets.
Type 3: Treasury computes and separately accounts for investment earnings but credits those earnings to the State’s General Fund.
To learn more about the GeFONSI...
- GeFONSI FAQ
- GeFONSI, CBR and SBR Charts
- GeFONSI Pool Participant Investment Earnings
- Participant Fund Details - Memorandum of Understanding (MOU) Attachment C
GeFONSI Market Value:
$3.39B on 02/29/2024
GeFONSI 1 Target Asset Allocation
As of 7/1/2023
GeFONSI 2 Target Asset Allocation
As of 7/1/2023
Annual Market Values and Performance Results
| GeFONSI 1 | ||
| Fiscal Year | Market Value | Return |
| 2023 | $2,163,144,147 | 3.56% |
| 2022 | $3,789,308,232 | -1.47% |
| 2021 | $2,586,557,511 | 0.09% |
| 2020 | $1,592,969,256 | 2.15% |
| 2019 | $2,024,879,746 | 3.08% |
| 2018 | $1,720,236,704 | 1.02% |
| 2017 | $4,089,565,899 | 0.56% |
| 2016 | $3,539,490,646 | 0.82% |
| 2015 | $4,047,216,994 | 0.45% |
| 2014 | $5,505,603,690 | 0.57% |
| 2013 | $11,988,133,076 | 0.31% |
| 2012 | $12,039,480,276 | 1.52% |
| 2011 | $9,067,621,609 | 1.72% |
| GeFONSI 2 | ||
| Fiscal Year | Market Value | Return |
| 2023 | $1,573,945,214 | 3.61% |
| 2022 | $1,424,194,362 | -3.61% |
| 2021 | $950,353,951 | 2.52% |
| 2020 | $931,402,122 | 3.31% |
| 2019 | $1,330,965,806 | 4.65% |
| 2018 | $1,306,370,479 | -0.21% |