Texas Teachers earns 7.7% from hedge funds


The $100 billion Teacher Retirement System of Texas Trust Fund earned 12.6% for the 2010 plan year ending 30 September.

The pension fund’s $4 billion hedge fund portfolio returned 7.7% for the year ending 30 June 2010. Albourne Partners is the consultant for its absolute return programme.

Trustees approved the payment of the first half of the performance incentive awards to staffers for the 2010 plan year, which totals $9.7 million.

“During the past few years, TRS and our staff have been challenged as never before, and our world-class team has responded in a skillful and methodical manner,” said David