Wednesday, 22 October 2014
Last updated 14 hours ago
Dec 13 2006 | 11:49am ET
The $39 billion Teachers' Retirement System of the State of Illinois has established initial allocations for absolute return and real return strategies as part of a new asset allocation plan approved by the TRS board of trustees this month.
The target allocation for absolute return investments is 2.5% of TRS’s total portfolio and 10% of its total fund for real return investments. The board also authorized a search for absolute return adviser/manager.
Under the new plan, target allocations for domestic equities and fixed-income fell from 41% to 30.5% and 23.0% to 15%, respectively. International equities and private equity, on the other hand, got boosts from 15% to 20% and 6% to 8%, respectively. The 14% target allocation for real estate investments will remain unchanged.
The board also made a $50 million to J.C. Flowers II, a buyout fund focused on the financial services sector and $100 million to Providence Equity Partners VI, a buyout fund focused on the media and telecommunications sectors.
In addition, the board also hired Copper Rock Capital Partners to manage $50 million in small- and mid-cap growth domestic equities as part of TRS’s $500 million emerging managers program. To date, TRS has committed $125 million to the program.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...