US - The Teachers' Retirement System of the State of Illinois (TRS) Board of Trustees has appointed $250m to private equity investments.
In other business, the TRS Board of Trustees approved an additional $50m mandate to KBS Realty Advisors, a separate account adviser focused on the acquisition of office space. TRS investment returns during the first quarter of fiscal year 2008 remained positive, earning 2.31% before fees for the period ending 30 September 2007.
TRS earned annualised returns of 17.94% for the one-year time period, 15.01% for the three-year period, 15.20% for the five-year period and 9.14% over ten years.
The market value of TRS's assets rose to $42.3bn. TRS staff have also reported on the successful funding of the System's initial allocation to separate 130/30 mandates.
In October, the Board hired Analytic Investors and JPMorgan to each manage $500m. The strategy was designed to further diversify the domestic equity asset class.
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point