Teacher Retirement System of Texas, Austin, hired Watson Wyatt...

Teacher Retirement System of Texas, Austin, hired Watson Wyatt Worldwide to start work on an asset allocation study, said Howard Goldman, spokesman for the $81.7 billion fund. The study will contain a portfolio optimization analysis that evaluates the risk and return characteristics of various asset mixes plus a survey of the asset allocations other public funds use. The system’s allocation as of June 10 was 32.6% fixed income; 65.1% equity; 1% real estate; 0.1% alternative assets; and 1.2% cash equivalents.