Texas Municipal to hire funds of funds

Mon Jul 6, 2009

The Texas Municipal Retirement System is rebuilding its investment portfolio after 60 years of investing in fixed-income, according to Eric Henry, executive director and chief investment officer of the $15 billion pension fund.

While this tried and tested strategy meant the system was able to preserve capital and only lost 1.3% last year despite the market meltdown, going forward, officials are diversifying...


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