Investing for More Than
320,000 Texans

An optimally balanced portfolio lets TCDRS invest for employees at every stage of their career.

our portfolio

We Stay Diversified

Our broadly diversified portfolio is designed to achieve our long-term return goal with an acceptable level of risk. This not only reduces our exposure to risk, but also allows us to take advantage of opportunities across a variety of asset classes and even within the classes themselves.

Our Planning Cycle

Managing Risk

A Unique Approach

Risk is a factor in any investment. We know we’re not going to achieve our long-term return goal every year depending on market fluctuations. So what’s an acceptable level of risk? For us, it’s the smallest amount of risk we can take to achieve our goal of an 8% long-term return.

The right balance
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our value

Keeping Investment Costs Low

Our large fund size creates unique economies of scale that make our investment process more efficient. We never charge fees to our participating employers.

Our Value

Monitoring Performance

Keeping an Eye on What Matters

At TCDRS, we’re constantly monitoring our investments. Measuring investment performance is all about benchmarks — comparing our performance to accepted industry indices. As of Dec. 31, 2019, our 30-year investment return is 8.0%, and we’ve outperformed our portfolio benchmarks over the 10-, 20- and 30-year time periods.

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Responsible Guidance

Where People & Policy Meet

The TCDRS Board of Trustees is responsible for overseeing the investment of TCDRS assets. They receive assistance from the investment officer and staff, along with professional firms they have hired, in carrying out that responsibility.

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Our Partnerships

Partnering With the Best

At TCDRS, we’re proud to work with industry-leading investment managers to help manage our assets, thanks to a comprehensive hiring process and continual monitoring of post-hire performance.