Texas Teachers’ Assets Hit $119.7 Billion at September Close
According to a trustees’ meeting report, the Austin-based Teacher Retirement System of Texas had assets grow 3.7% to US$ 119.7 billion in the quarter ending on September 30, 2013. In the third quarter, the pension system earned 4.4% and outperformed its benchmark by 16 basis points. U.S. stocks (especially small-cap) and private equity were major contributors of return increases.
Increasingly, larger U.S. pensions are negotiating fees with long-only equity asset managers. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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