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.
An overweight position to global equities and credit has contributed to the Teachers’ Retirement System of Texas recording its best ever investment return: 35 per cent for the year to March 2010.
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