August Benefit Payments: TRSL's payment of August 1st regular retirement benefits falls on a weekend, so your bank may post this payment

to your account on the next business day. Please contact your bank if you need information about the posting of this payment.

Public Assets

Public equity

Public equities consist of publicly traded marketable securities which are traded on a regulated exchange. The public equity markets cover various market capitalization segments and styles in both domestic and international markets. TRSL oversees all investments in this asset class which include program structure, policy development, implementation, external investment manager selection, and program monitoring. TRSL’s public equities are managed both passively and actively in the domestic and international markets by various domestic and international managers.

Fixed income

Fixed income investments are a necessary component of institutional investment portfolios in order to ensure portfolio diversification while providing a reliable source of income. With a low correlation to equity securities, fixed income investments help reduce overall volatility. Examples include investment grade U.S. treasuries, federal agencies, corporate bonds, asset-backed securities (ABS), mortgage-backed securities (MBS) and commercial mortgage-backed securities (CMBS). TRSL’s investments are managed externally by various domestic and global managers.  
 
Public Assets: Market Value and Returns (as of May 31, 2021)
Account
Total Market
Value ($)
in millions
Fiscal Year Ending (%) 1-Yr Ending (%) 5-Yrs Ending (%) 10-Yrs Ending (%)
Total Fund 25,904 30.40 35.32 12.85 9.68
TRSL Policy Benchmark   26.19 29.12 12.09 9.30
           
Total Publicly Traded 16,107 32.24 36.10 12.52 8.93
TRSL Public Benchmark   28.16 31.67 11.64 8.26
           
U.S. Equity 7,088 43.61 47.10 16.91 13.37
Russell 3000 Index   40.69 43.91 17.36 14.21
           
International Equity 4,769 39.45 46.63 13.57 7.91
MSCI EAFE Dividend Index   33.86 38.41 9.77 5.88
           
Global REIT 404 32.75 35.14    
FTSE EPRA/NAREIT Dev Index Tri USD   32.51 35.92    
           
U.S. Fixed Income 1,324 0.79 1.84 4.03 3.91
Barclays Cap Aggregate Bond Index   -1.03 -0.41 3.25 3.29
           
Global Fixed Income 1,873 12.61 14.94 5.36 4.03
Barclays Cap Global Aggregate Bond Index   3.55 4.47 3.11 2.15
           
Emerging Market Debt 300 8.76 8.77 3.59  
JP Morgan GBI-EM Global Diversif Index   7.88 8.39 4.69  
           
Unallocated Cash 349        
           
  NOTE: Performance is net of fees. Slight rounding variance may occur.

 
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