SEPTEMBER 18, 2013

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CRPTF plans to commit $250 million to open-end core funds

by Reg Clodfelter

The $26.8 billion Connecticut Retirement Plans and Trust Funds (CRPTF) has decided to make commitments to three open-end core funds, J.P. Morgan Asset Management’s Strategic Property Fund, Prudential Real Estate Investors’ PRISA and UBS Global Asset Management’s UBS Trumbull Property Fund, contingent upon successful contract negotiations. This decision has been made following due diligence performed by the Connecticut Treasury Department’s investment staff and real estate consultant The Townsend Group.

CRPTF has plans to allocate $250 million between the three open-end funds, though it has yet to determine how much it will commit to each.

As of July 2013, 5.5 percent, or $1.5 billion, of CRPTF holdings have been allocated to real estate. CRPTF invests on behalf of 15 separate retirement and trust funds

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