The investment team of the $97 billion Teachers’ Retirement System of Texas will request the removal of sunset clauses on its use of external managers and derivatives, or at least increase the maximum limit on external managers from 30 to 50 per cent of the fund, at a legislative hearing in August.
CalPERS’ search for a new asset allocation strategy
The fund has embarked on an asset allocation review that is more like a total engine makeover, one of the most important activities in the fund’s history.
