Investment Actions
Periodically the Teachers' Retirement Board changes the investment managers that handle TRS investments. Beginning December 2017, the Board's investment actions are reported here after they have taken effect.
November 2019
- Completed a transition within the Diversified Equity Fund: Clearbridge Investments, an active manager, was terminated, and funds were temporarily reallocated to the Russell 3000 Index.
October 2019
- Completed a transition within the Sustainable Equity Fund (known as the Socially Responsive Equity Fund through September 30, 2019): As of October 1, Brown Advisory was hired to manage the assets of the fund, replacing Neuberger Berman.
- Completed a transition within the international composite of the Diversified Equity Fund and the International Equity Fund: As of October 1, Brown Capital and Franklin Templeton were hired to manage a portion of the assets.
April 2018
- Completed a longer-term transition within the defensive strategies composite of the Diversified Equity Fund: GMO’s allocation was reduced, and a new tactical asset allocation manager, BlackRock, was hired. In addition, Invesco replaced Zazove as a manager of convertible bonds.
December 2017
- Completed a transition within the active composite of the Diversified Equity Fund: Two active managers (Jackson Square and Intech) were terminated, and funds were reallocated to the Russell 3000 Index and three existing active managers.