Texas Teacher Retirement System, Austin, returned 4.2% in the 12 months ended June 30, surpassing the 3.8% benchmark.
The $131.5 billion fund was down 0.03% for the three months ended June 30, but still was above the -0.1% benchmark return for the time span, showed a performance report prepared for a Sept. 24 board meeting by investment consultant Aon Hewitt Investment Consulting.
Over longer time periods, as of June 30, the fund for the first half of the year returned 2.6% (benchmark, 2.2%); three years, 10.1% (9.2%); five years, 10.9% (10.5%); 10 years, 6.8% (6.5%); and since inception on July 1, 1991, 8.8% (8.3%).
Aon Hewitt's report also showed that the Texas Teacher fund's assets under management declined 0.7% in the quarter ended June 30, due to net outflows of $897 million and performance gains of $18 million.
