Texas Employees Retirement System, Austin, added new investment options from BlackRock and AllianceBernstein for its combined $1.7 billion Texa$aver 457 and 401(k) plans, according to a webcast of the Tuesday board meeting.
The new options will be available Jan. 1.
An RFQ was issued in January for a real asset fund and short-term government bond fund.
The board approved adding the actively managed AllianceBernstein Real Asset Strategy Fund and passively managed BlackRock 1-3 Year Government Bond index fund. BlackRock was the other finalist for the real asset fund; Wells Fargo for the short-term government option.
The AllianceBernstein fund currently has an allocation evenly divided among natural resource stocks, real estate stocks and commodities. The BlackRock fund has more than 81% of its assets invested in short-term Treasuries.
The Texa$aver plans have 10 core investment options and a series of target-date funds.
