Texas Permanent School Fund Locks in 9.44% for FY 2012
Based in Austin, Texas, the Texas Permanent School Fund (TPSF) generated a 9.44% return for the fiscal year ending August 31, 2012. The US$ 25.5 billion public fund distributed US$ 1.2 billion to support Texas schools for the two years ended by the latest fiscal year. TPSF outperformed its policy benchmark by 57 basis points.
“It is gratifying to see such a high return in these volatile markets,” says Barbara Cargill, chair of the Texas State Board of Education in remarks off the Texas Education Agency website. “Solid and prudent planning has enabled the State Board to make investments resulting in strong returns that beat the benchmark.”
Fiscal Year 2012 Returns
|Name||Performance||Fiscal Year End||Size in Billions USD|
|Texas Permanent School Fund||9.44%||August 31||25.5|
|Alaska Permanent Fund||0.02%||June 30||40.3|
|Harvard Management Company||-0.05%||June 30||30.7|