The $12.6 billion State of Connecticut Trust Funds, Hartford, has begun liquidating its $1.1 billion real estate portfolio, and intends to be out of most of its property-related investments by 1998.
Seventeen real estate money managers are affected.
According to the minutes from the April meeting of Connecticut's Investment Advisory Council, ``the current position of (State Treasurer Christopher Burnham) is to liquidate the real estate investments in the ... portfolio and to not invest in additional real estate unless further analysis and circumstance warrant a change in that policy.''
Mr. Burnham is the sole trustee of the state's pension fund. He restructured the pension fund's equity and fixed-income managers beginning in late 1995.