Texas Teacher Retirement System, Austin, experienced a 1.36% decline in assets to $115.9 billion in the quarter ended June 30.
The decline was the result of a $611 million decline in investment earnings and net withdrawals of $965 million in the second quarter, according to a performance report presented to the TRS board at a meeting Thursday by the board's consultant, Hewitt EnnisKnupp.
The pension fund's returns continued its long, benchmark-topping run for periods ended June 30: second quarter, -0.56% (benchmark, -0.78%); year-to-date, 3.01% (benchmark, 2.57%); one year, 10.21% (benchmark, 8.67%); three years, 11.4% (benchmark, 11.1%); five years, 4.56% (benchmark, 4.49%); 10 years, 7.24% (benchmark, 7.02%); and since inception on June 30, 1991, 8.69% (benchmark, 8.17%). All multiyear returns are annualized.
