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September 21, 2012 01:00 AM

Texas Muni assigns $800 million in rules-based stock strategies

Kevin Olsen
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    Texas Municipal Retirement System, Austin, hired State Street Global Advisors and UBS Global Asset Management to run $400 million each in rules-based equity portfolios, confirmed Bill Wallace, spokesman for the $19.8 billion pension fund.

    Both managers will run $200 million each in domestic and international equity portfolios, Mr. Wallace wrote in an e-mail.

    The hires are part of the pension fund's ongoing diversification strategy. The diversification plan calls for a 35% allocation to equities, of which 50% is in core/passive investments and 50% is in rules-based and active management.

    These are the pension fund's first allocations to rules-based strategies, and they will be funded from the passive equity portfolio, Mr. Wallace said.

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    December 12, 2022 page one

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