January 2019 Committee on School Finance/Permanent School Fund Item 10
Presentation on the Risk Parity Asset Class for the Permanent School Fund
January 31, 2019
COMMITTEE ON SCHOOL FINANCE/PERMANENT SCHOOL FUND: DISCUSSION
STATE BOARD OF EDUCATION: NO ACTION
SUMMARY: This item provides an opportunity for the committee to receive presentations on the risk parity asset class and services provided to the Permanent School Fund.
STATUTORY AUTHORITY: Texas Education Code (TEC), §43.003 and the Texas Constitution, Article VII, §5(f).
TEC, §43.003, outlines the types of investments that the State Board of Education (SBOE) may make with the Permanent School Fund.
The Texas Constitution, Article VII, §5(f) authorizes the SBOE to acquire, exchange, sell, supervise, manage or retain investments of the Permanent School Fund and establishes the prudent person investment practice.
The full text of statutory citations can be found in the statutory authority section of this agenda.
FUTURE ACTION EXPECTED: None
BACKGROUND INFORMATION AND JUSTIFICATION: None
Staff Members Responsible:
Holland Timmins, Executive Administrator and Chief Investment Officer, Texas Permanent School Fund
January 31, 2019
COMMITTEE ON SCHOOL FINANCE/PERMANENT SCHOOL FUND: DISCUSSION
STATE BOARD OF EDUCATION: NO ACTION
SUMMARY: This item provides an opportunity for the committee to receive presentations on the risk parity asset class and services provided to the Permanent School Fund.
STATUTORY AUTHORITY: Texas Education Code (TEC), §43.003 and the Texas Constitution, Article VII, §5(f).
TEC, §43.003, outlines the types of investments that the State Board of Education (SBOE) may make with the Permanent School Fund.
The Texas Constitution, Article VII, §5(f) authorizes the SBOE to acquire, exchange, sell, supervise, manage or retain investments of the Permanent School Fund and establishes the prudent person investment practice.
The full text of statutory citations can be found in the statutory authority section of this agenda.
FUTURE ACTION EXPECTED: None
BACKGROUND INFORMATION AND JUSTIFICATION: None
Staff Members Responsible:
Holland Timmins, Executive Administrator and Chief Investment Officer, Texas Permanent School Fund