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January 22, 1996 12:00 AM

SPECIAL REPORT: LARGEST FUNDS (PART 19/41)

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    Illinois Municipal

    Retirement Fund

    ($ millions)

    Total assets8,264

    Defined benefit8,264

    Employer DB contributions315

    Benefit payments323

    Internally managed assets127

    Hedging devices used:

    Fixed-income futures

    Defined benefit asset mix:

    Stocks60.3%

    Fixed income31.2%

    Cash equivalents1.5%

    Real estate equity5.0%

    Mortgages0.3%

    Alternative investments1.7%

    OAK BROOK, Ill. - As of Sept. 30, total employee benefit assets of the

    Illinois Municipal Retirement Fund increased 16% from a year earlier. All assets are defined benefit.

    Employer contributions to the plan increased 37%; benefits paid increased

    32%.

    Defined benefit managers:

    Domestic equities: ANB; Campbell Cowperthwait; Dalton Greiner; DFA;

    Fidelity Management; Frontier; Harris; Holland; Lincoln; Loomis Sayles;

    Provident; Wall Street Associates.

    International equities: ANB; Bank of Ireland; Brandes; Capital Guardian;

    Fidelity Management; Nomura; Schroder.

    Domestic fixed-income: Abacus; ANB; Fidelity Management;

    Nicholas-Applegate; Payden & Rygel.

    International fixed-income: Julius Baer.

    Real estate: Equitable; LaSalle; Metric; RREEF; Sentinel; TCW Realty.

    Other managers: Abbott Capital; Brinson; Forest Investment; J.P. Morgan;

    Larimer; Oxford Partners; Schroder Ventures.

    The master trustee and global custodian is Northern Trust.

    Key personnel overseeing the investment management of the fund are Robert L. Cusma, executive director; Walter J. Koziol, director-investments; and Edward N. Sambol, investment manager.

    Illinois State Board

    of Investment

    ($ millions)

    Total assets*4,790

    Defined benefit4,790

    *as of June 30

    Internally managed assets1,538

    Defined benefit asset mix:

    Stocks54%

    Fixed income37%

    Cash equivalents1%

    Real estate equity5%

    Other3%

    CHICAGO - As of June 30, total employee benefit assets of the Illinois State Board of Investment increased 11% from a year earlier. All assets are defined benefit.

    Defined benefit managers:

    Domestic equities: Ariel; Cooke & Bieler; Disciplined Investment; Fidelity; Lincoln Capital; Newbold's; Sloate Weisman Murray; Southeastern Asset; Marshall Plan; TCW; Valenzuela; Woodford.

    International/global equities: Brinson; Clay Finlay; Delaware International; Schroder; Templeton; TCW.

    Fixed-income: Delaware Investment; Fidelity; J.P. Morgan.

    Real estate: Aetna; AMLI; Cozad/Westchester; Heitman/JMB; Public Storage; TCW Realty; Zell/Merrill Lynch.

    Non-marketable securities: Candover; Corporate Advisors; Frontenac; Golder Thoma Cressy; Inroads Capital Partners; Hancock Venture; KKR; Menlo; Penman Asset; Prudential Equity; Warburg Pincus Ventures.

    The master custodian and global custodian is Northern Trust.

    Jane R. Patterson, executive director, oversees investment management of the fund.

    Teachers' Retirement

    System of the State

    of Illinois

    ($ millions)

    Total assets13,512

    Defined benefit13,512

    Employer DB contributions331

    Benefit payments1,068

    Hedging devices used:

    Stock options

    Bond options

    Stock index futures

    Fixed-income futures

    Short selling

    Managed futures

    Defined benefit asset mix:

    Stocks44.6%

    Fixed income29.3%

    Cash equivalents6.0%

    Real estate equity16.7%

    Mortgages1.8%

    Alternative investments1.6%

    SPRINGFIELD, Ill. - As of Sept. 30, the Teacher's Retirement System of the State of Illinois' total employee benefit assets, all defined benefit, increased 12.2% from a year earlier.

    Employer contributions increased 7%; benefit payments increased 44.6%.

    Defined benefit managers:

    Domestic equities: Ark; Bank of America; Brinson; Cordillera; Brandywine; FMA; Lazard Freres; Lincoln Capital; Morgan Stanley; MPI; Munder; Oppenheimer; Paradigm; PIMCO; Sturdivant; Woodford; Hotchkis and Wiley; Valenzuela; First of America; Zimmerman; RCM.

    International equities: AG Bisset; Ark; Blairlogie; Brandywine; Brinson; Clay Finlay; Daiwa; Delaware; H&W International; IDS; Scudder Stevens; Pyrford; RCM; Zimmerman.

    Domestic fixed-income: Atlantic Asset; Bear Stearns; Brinson; HIMCO; Hotchkis and Wiley; PIMCO; Weiss, Peck & Greer; Huff; Zimmerman.

    International fixed-income: Julius Baer; Bear Stearns; Brinson; Delaware; PIMCO; Schroders; Smith Barney; Societe Generale.

    Real estate: Bear Stearns; Brinson; Capital Associates; Commonwealth; Common Fund; Cozad; K/B Realty; JLW; Heitman/JMB; LaSalle Advisors; Lincoln Hebron; Lincoln Property; Stone-Levy; TCW.

    Futures/currency: Brinson Partners.

    Other managers: Frontenac; Weiss, Peck & Greer; DLJ Merchants; Penman; Sandler; VS&A Communications.

    The master custodian and global custodian is Harris Trust.

    Key personnel overseeing the investment management of the fund are Robert Daniels, executive director; Donald Nesbitt, director of investments; and Matthew Evans, investment officer.

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