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Seal of the Senate of the State of Texas Welcome to the Official Website for the Texas Senate
Seal of the Senate of the State of Texas
Welcome to the official website for the
Texas Senate
March 25, 2008
(512) 463-0300


(AUSTIN) — Members of the Senate's Finance and State Affairs Committees were at the Capitol Tuesday to take on one of their joint interim charges: the use of the same investment strategy for all of the state's trust funds. These funds include pension for state employees and teachers, and endowments for schools and infrastructure. The committees heard testimony today from the fund managers from nine of these trust funds. All managers broke down their individual fund's investment strategy, risk management, and rates of return. As the next session draws closer, members of these committees will consider whether the state would be better served by one investment and risk strategy for all state trust funds, or whether a diverse approach is more profitable. University of Texas Investment Management Company CEO Bruce Zimmerman, who oversees part of the Permanent School Fund, recommended continuing under the current policy of allowing each fund manager to tailor investments based on the context and purposes of each individual trust.

Session video and all other Senate webcast recordings can be accessed from the Senate website's Audio/Video Archive.