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Relating to the authority of the Teacher Retirement System of Texas
to invest in certain hedge funds.
No fiscal impact to the state is anticipated.
The statutory cap on the percentage of total investment portfolio that the Teacher Retirement System of Texas may invest in hedge funds was capped at 5%. In 2011 the Legislature temporarily raised that cap to 10%. That temporary provision is set to expire in 2019.
HB 1612 would repeal the temporary 10% cap and revise the statutory cap to 10% so that TRS will continue to have authority to invest 10% of its total investment portfolio in hedge funds as it has been able to do since 2011.
Texas Action is neutral on HB 1612 because it does not affect our liberty principles.