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Texas Fund's Soured Bet On Exotic-country Stocks Takes Further Hit

by thestreet.com posted 1month ago 9 views
Click to view a price quote on JPM. : A big bet on emerging-market stocks from places like China, Brazil and Russia saddled a $150 billion Texas pension fund with lagging investment returns in the third quarter, even as U.S. stocks surged to new records. The Teacher Retirement System of Texas, which has the biggest allocation to the exotic-country stocks among the largest U.S. public pension funds, posted an overall return of 2.2% during the three months ended Sept. 30, according to a quarterly update posted on its web site.

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