Teachers' Retirement System of Illinois, Springfield, returned 9.54% for the year ended Dec. 31, an annualized 14.84% for the three-year period, and an annualized 6.69% for the five-year period, placing TRS in the 16th percentile, 33rd percentile and 11th percentile, respectively, of the Callan Large Public Fund Universe.
Also, the $35.4 billion system automatically placed or kept seven managers on its watchlist, including BlackRock, which manages $1.6 billion in active fixed income; Boston Partners, $827 million in active domestic fixed income; and Harris Associates, $448 million in active international equities. Those three were placed on watch for organizational concerns. On the list for underperforming a preset benchmark were INVESCO, $923 million in active international equities; Holland Capital Management, $320 million in active domestic large-cap equities; and Ariel Capital, which manages $196 million in active domestic small-cap to midcap equities. Delaware Investments, which manages $591 million in active domestic small-cap to midcap equities, remained on watch for both performance and organizational reasons.