Texas TRS Steers Clear of Toxic Assets
August 12, 2009
The Teachers’ Retirement System (TRS) of Texas is just saying no to toxic bank assets—for the time being, that is.
A report in the Austin American Statesman quotes TRS Spokesman Howard Goldman as saying, “We do not plan to participate in this particular investment program at this time. However, we are continuing to monitor developments closely and will continue to look for opportunities to participate in what we perceive to be attractive investment opportunities in this area.”
Earlier, the TRS was considering placing assets with one of its current managers, Marathon Asset Management, for the government program. Last month, Marathon was one of the firms selected by the Treasury Department as a manager for the Public-Private Investment Program.
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