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Texas Permanent School Fund Locks in 9.44% for FY 2012

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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
CalPERS 1.01% June 30 233.0
Alaska Permanent Fund 0.02% June 30 40.3
Harvard Management Company -0.05% June 30 30.7

NZ Super Names Three New Board Members

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New appointments have been made to the Board of the Guardians of New Zealand Superannuation Fund (NZ Super). The appointments were made on July 19, 2018. The three new board members are Catherine Drayton, Simon Botherway and Henk Berkman.

According to the NZ Super press release, “Simon Botherway’s appointment runs from 1 August 2018 to 30 September 2021. He is a professional director with a history in investment, investment regulation and supervision. Other board roles have included his current position as Chair of Serko, a director on Callaghan Innovation and previously being the Chair of the FMA Establishment Board and a member of the Securities Commission.

Henk Berkman will serve from 1 October 2018 to 30 September 2022. He has been Professor of Finance, Department of Accounting and Finance at the University of Auckland since 2008. Mr Berkman has held previous professorial positions at Massey University, University of Sydney and the University of Maastricht.

Catherine Drayton will serve from 1 November 2018 until 30 September 2022. She is a Christchurch-based director who previously led the Assurance and Advisory Practice for PwC in Central Eastern Europe. Her public sector governance experience includes her current role as Chair of Christchurch International Airport and as a member of the University of Canterbury Council. Her experience as a Director of Ngai Tahu Holdings has provided her with iwi governance experience.”

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AIMCo Names Former Talisman Energy Executive to Board

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The Alberta Investment Management Corporation (AIMCo) appointed Jacqueline (Jackie) Sheppard as a member of the board of directors for a term set to expire on June 30, 2021. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Grant & Eisenhofer Reveals Fortis Investors to Receive $1.5 Billion in Mega Settlement

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Law firm Grant & Eisenhofer won a landmark case for its clients after a seven-year legal duel in Dutch courts. On July 13, 2018, the Amsterdam Court of Appeals officially approved the largest securities settlement ever reached in Europe, paving a path for international insurance company Ageas N.V./S.A. to begin payment of US$ 1.5 billion (€1.3 billion) to multiple groups of institutional and individual investors from Europe and the United States. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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