US - The Teacher Retirement System of the State of Illinois (TRS) has appointed two new senior investment officers.
Lamar Villere has left the position of domestic equities officer he has held at TRS since 2005 to become senior alternative investments officer.
Meanwhile, Scottie Bevill, who has served in various capacities during his 15 year tenure at TRS, has taken the role of senior investment officer for global bonds and real return.
TRS CIO, Stan Rupnik, said: “TRS is pleased to redeploy Lamar and Scottie’s high-calibre skill sets in the alternative investment arena. Our members will be well served by their investment expertise and strong work ethic.”
Bevill is expected to continue to oversee aspects of the emerging manager program and minority owned investment manager and broker programs.
TRS voted in December 2006 to add a 2.5 % allocation to absolute return strategies and a 10% allocation to real return.
The fund has also carried out a major shake up of asset allocations.
As an example, Invesco and Pyramis Global Advisors recently both lost $1.2bn each, in international equity mandates in a cull of six managers.
The Pension Protection Fund (PPF) is consulting on proposals to charge a "risk reflective" levy for commercial defined benefit (DB) consolidation vehicles.
The funding gap across FTSE 350 schemes could be slashed by as much as £275bn if schemes look beyond traditional ways of creating value. Victoria Ticha examines how
There will be "many flavours" of defined benefit (DB) consolidators but consolidation will only be the right answer for a minority of schemes, Alan Rubenstein says.
Work and Pensions Committee (WPC) chairman Frank Field has questioned the regulator on what lessons it can learn from the experience of the Kodak Pension Plan No.2 (KPP2).