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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 April 30, 2017)

Account Total Market
Value ($)
Fiscal Year
Ending (%)
1-Yr
Ending (%)
5-Yrs
Ending (%)
10-Yrs
Ending (%)
           
TOTAL FUND 18,172,042,720 12.08 13.88 9.11 5.41
TRSL Policy Benchmark   12.01 13.30 8.90 5.21
           
TOTAL PUBLICLY TRADED 12,891,170,240 12.96 13.54 8.22 5.02
TRSL Public Benchmark   11.77 12.56 7.77 4.29
           
U.S. EQUITY 5,728,922,964 16.07 17.76 12.66 6.58
Russell 3000 Index   16.26 18.58 13.57 7.23
           
INTERNATIONAL EQUITY 3,541,764,911 17.87 15.83 7.08 2.02
MSCI EAFE Net Dividend Index   16.22 11.29 6.78 0.87
           
U.S. FIXED INCOME 1,266,610,254 0.24 2.07 2.94 3.86
Barclays Cap Aggregate Bond Inde   -0.98 0.83 2.27 4.30
           
GLOBAL FIXED INCOME 1,805,295,578 3.02 3.74 2.56 5.47
Barclays Cap Global Aggregate Bond Index   -3.58 -2.10 0.37 3.34
           
EMERGING MARKET DEBT 289,129,150 5.21 5.16    
JP Morgan GBI-EM Global Diversif Index   3.89 4.03 -1.58 3.91
           
UNALLOCATED CASH 162,376,887 0.66 0.74 0.29 0.81

NOTE: Performance is net of fees.