Texas Teachers Cuts Allocation Towards Equities, Hedge Funds

The sixth-largest U.S. public pension fund in the U.S. has reduced its allocation to hedge funds, but lowered exposure to equities by a much larger percentage.

Teacher Retirement System of Texas cutting exposure to equities by 4% and hedge funds by 1%

The Teacher Retirement System of Texas announced it was cutting its exposure to equities by four percent, reducing hedge exposure by one percent while adding five percent exposure to risk parity and private market exposure, Bloomberg is reporting.

“These new allocations are expected to be funded from a diverse set of asset classes across the trust in order to increase the overall probability that TRS will...