Salient to Investors:
- The Teacher Retirement System of Texas cut its hedge fund allocation to 8% from 9%, cut equities by 4 percentage points and fixed-income by 2 percentage points, and increased risk parity – a strategy based on allocation of risk and private equity and real assets – and private markets by 5 percentage points each.
- TRS has 80.8% of the assets needed to fund future payments to retirees. Wilshire Consulting said state funds last year had 75% of the assets they need to satisfy expected claims .
Read the full article at http://www.bloomberg.com/news/2014-09-19/texas-pension-cuts-hedge-fund-exposure-by-1-percentage-point.html
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