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TRS Tops 2016 Goal for Minority & Women Participation in Investments

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SPRINGFIELD, IL – Teachers’ Retirement System surpassed its fiscal year 2016 goals for integrating women and minority-owned money managers and brokers into its investment program with more than 17.6 percent of the total portfolio managed by WMBE companies.

TRS investment staff reported to the TRS Board of Trustees that at the end of the fiscal year on June 30, the 34 women and minority owned business enterprises managing System assets administered $7.86 billion. The WMBE goal for FY 2016 was 16 percent of total assets. The FY 2016 total surpassed the goal by $721 million.

“We continue to make great strides in identifying and building the presence of minority and women owned firms within the TRS investment program,” said TRS Executive Director Dick Ingram. “But we recognize that there is more progress that we can make to ensure that our investment partners are diverse and reflect the makeup of our members and the citizens of Illinois.”

At the end of FY 2016, TRS managed a total of $44.8 billion in member assets.

Earlier this year, the TRS commitment to diversity within its investment program was recognized by the annual Consortium East investment conference with the Institutional Investor of the Year Award for 2016. TRS was lauded by the national organization for its “unwavering commitment to the growth and success of the emerging manager space…They serve as champions in their interactions with small and diverse managers…”

During the last three years, TRS has committed more than $2.7 billion in new money to WMBE firms, with $716 million in new money during FY 2016.

Over the last five years, TRS has consistently raised its WMBE targets, from 13.2 percent in FY 2012 to 16 percent this past year.

“We find that a diverse roster of asset managers and brokers constantly infuse TRS with new ideas to enhance the portfolio and identify potential investment opportunities that are a benefit to our 400,000 members,” Ingram said.

About Teachers’ Retirement System

The Teachers’ Retirement System of the State of Illinois is the 37th largest pension system in the United States, and provides retirement, disability and survivor benefits to teachers, administrators and other public school personnel employed outside of Chicago. The System serves 400,598 members and had assets of $44.8 billion as of June 30, 2016.

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