Eric Henry resigned as CIO of the Texas Municipal Retirement System, effective Friday, confirmed TMRS spokesman Bill Wallace.
Mr. Henry was unavailable for comment. Information concerning the reasons for his departure was not available at press time.
Mr. Henry has served as CIO of the $14.6 billion Austin-based system since June 2007, overseeing the development of a plan to diversify the system’s asset allocation from 100% bonds. The all-bond strategy gave the system the distinction of being the only one of the top 200 pension plans in the country to show an increase in assets for the 12 months ended Sept. 30, 2008, according to Pensions & Investments data.
The system’s asset mix as of Aug. 12 was 83.7% fixed income, 8.1% international equity, 7.8% domestic equity and 0.4% cash. The system has a 2010 target of 55% fixed income, 20% each to domestic and international equities, 2% real return and up to 3% in real estate. The 2013 target is 35% fixed income, 20% each to domestic and international equities, 10% real estate and 5% each for absolute return, real return and private equity.
Mr. Wallace said the TMRS board of directors will meet in executive session Thursday to discuss Mr. Henry’s replacement.