The Texas Municipal Retirement System (TMRS) has tasked RVK to conduct an independent evaluation on the appropriateness, adequacy and effectiveness of the pension system’s investment practices and performance.
The evaluation was broken down into five sections that each provide recommendations for improving the TMRS investment policies, procedures and practices, according to the report. Such recommendations include updating the investment beliefs and adopting a fee policy to assist investment decision making, and considering the inclusion of more differentiated portfolios in future asset/liability modeling.
In a video interview conducted with IREI earlier this year, Tom Masthay, the director of private equity, who was the director of real assets at the time of the interview, said in 2019 the pension system focused on evolving real estate allocations toward a risk neutral stance and levera
