US - The $12.7bn Teachers Retirement System of Louisiana (TRSL) has hired Harris Associates to run a $200m equities mandate.
Dan Bryant, the fund's chief investment officer, said that Harris will manage a $200m MSCI EAFE international equities mandate. Holbein Associates assisted the fund.
The TRSL is the Louisiana's largest public retirement system and has approximately 95,000 members and 46,000 benefit recipients. For fiscal year 2000, investments provided an 14.4% rate of return with three- and five-year averages at 14.3% and 15%, respectively.
By Geoffrey Ho
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers