The $36 Billion pension fund run by the State of Tennessee has been recognized as Large Public Plan of the year.
We congratulate Mr. Brakebill for his performance, but more importantly for recognizing that it comes at the cost of assuming more risk.
Related links:
The fund had a one-year return of 8.61% in fixed income investments as of Dec. 31, beating its longer duration benchmark—the Citigroup Large Pension Fund Index, which returned 6.26%—and its median peer group which returned 7.78%.
“When interest rates fell, the longer duration benchmark did really well,” Brakebill said, adding that the fund’s strategic asset allocation takes on more risk than is typical for funds in its peer group.
We congratulate Mr. Brakebill for his performance, but more importantly for recognizing that it comes at the cost of assuming more risk.
Related links:
- Market timers vs. asset allocators
- Jeremy Siegel, Stocks for the Long Run
Bravo!! high risk high reward and it proved here yet again. $36 billion is way big amount. Well done financial team!!
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