Texas TRS avoids thematic calls amid macro worries

The Teacher Retirement System of Texas is holding its asset allocations steady due to the heightened economic uncertainty as international trade tensions and European political risks grow. Jerry Albright, chief investment officer of the $151 billion pension fund, said it is holding its allocations fairly close to their targets (see figure below) and avoiding making calls on particular themes. “It’s hard to be optimistic across the globe in the current environment,” he told Asian…