Illinois Teachers increases allocation to emerging managers

Illinois Teachers’ Retirement System, Springfield, increased its dedicated allocation to emerging money managers to $750 million.

Trustees of the $43.6 billion pension fund approved the increase from the previous $500 million target at their meeting Wednesday as part of a diversity initiative.

The pension fund had a total of $687 million invested with 24 managers as of March 31, Kirk Sims, investment analyst, told trustees.

Separately, the pension fund’s final net of fees returns for periods ended March 31 were three months, 2.5%; one year, 12.8%; three years, 9.3%; five years, 13.5%; and 10 years, 6.9%.

The benchmark returns for the same periods were 2%, 12.9%, 9.4%, 14.2%, and 7%, respectively.

Multiyear returns are annualized.