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Emerging tech fund~ too risky for teachers?
Old 11-16-2006, 03:56 PM   #1
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Emerging tech fund~ too risky for teachers?

Newly re-elected Gov Perry now wants the teacher's pension fund to drop over a half-billion dollars in this risky fund. What the hell is this guy smokin?

Gov. Rick Perry is asking the Teacher Retirement System, Texas' largest pension fund, to consider investing up to $600 million in young companies that receive money from Perry's emerging technology fund.

Last year, Perry persuaded lawmakers to put $200 million into a new Texas Emerging Technology Fund that invests in startup companies and public research projects. Perry wants the state to up its bet and is asking for the Teacher Retirement System investment.


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Re: Emerging tech fund~ too risky for teachers?
Old 11-16-2006, 04:38 PM   #2
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Re: Emerging tech fund~ too risky for teachers?

Quote:
Originally Posted by mickeyd
Newly re-elected Gov Perry now wants the teacher's pension fund to drop over a half-billion dollars in this risky fund. What the hell is this guy smokin?

Gov. Rick Perry is asking the Teacher Retirement System, Texas' largest pension fund, to consider investing up to $600 million in young companies that receive money from Perry's emerging technology fund.

Last year, Perry persuaded lawmakers to put $200 million into a new Texas Emerging Technology Fund that invests in startup companies and public research projects. Perry wants the state to up its bet and is asking for the Teacher Retirement System investment.


http://www.mysanantonio.com/sharedco...D8LEB4KG0.html
He's a sick puppy. Before long the Texas folks will be wishing "W" was still governor.

JG
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Re: Emerging tech fund~ too risky for teachers?
Old 11-16-2006, 04:57 PM   #3
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Re: Emerging tech fund~ too risky for teachers?

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Originally Posted by mickeyd
Newly re-elected Gov Perry now wants the teacher's pension fund to drop over a half-billion dollars in this risky fund. What the hell is this guy smokin?
And how much of his own money does Gov. Perry have in this fund? 8)
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Re: Emerging tech fund~ too risky for teachers?
Old 11-17-2006, 09:18 AM   #4
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Re: Emerging tech fund~ too risky for teachers?

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And how much of his own money does Gov. Perry have in this fund? 8)
If we base upon a lot of fund managers on Wall Street...........NONE!!
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Re: Emerging tech fund~ too risky for teachers?
Old 11-17-2006, 10:14 AM   #5
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Re: Emerging tech fund~ too risky for teachers?

The teacher's fund has $100 billion in assets. It doesn't seem like much of a stretch to put 0.5% into what is essentially a venture capital investment. Most of the large pension funds that I have researched generally have 5-10% invested in "alternative investments" such as VC, "absolute return" strategies, hedge funds, or something similar.
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Re: Emerging tech fund~ too risky for teachers?
Old 11-17-2006, 10:26 AM   #6
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Re: Emerging tech fund~ too risky for teachers?

Yep, they should take the money out of their California VC investments and put it into Texas VC investments.
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Re: Emerging tech fund~ too risky for teachers?
Old 11-17-2006, 10:34 AM   #7
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Re: Emerging tech fund~ too risky for teachers?

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The $100 billion teacher fund has a $13 billion shortfall and hasn't increased benefits for retirees since 2001.
If I were 13% behind my projected needs, I doubt that I would try to make up the shortfall by chasing a micro-tech fund to solve my problems. Of course it would be my $, not other people's $.
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Re: Emerging tech fund~ too risky for teachers?
Old 11-17-2006, 10:50 AM   #8
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Re: Emerging tech fund~ too risky for teachers?

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If I were 13% behind my projected needs, I doubt that I would try to make up the shortfall by chasing a micro-tech fund to solve my problems. Of course it would be my $, not other people's $.
Unfunded pension liabilities? The horror.................. :
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Re: Emerging tech fund~ too risky for teachers?
Old 11-17-2006, 12:15 PM   #9
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Re: Emerging tech fund~ too risky for teachers?

I have an easy way to make up the 13% shortfall. Just change a couple actuarial assumptions!
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Re: Emerging tech fund~ too risky for teachers?
Old 11-17-2006, 02:48 PM   #10
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Re: Emerging tech fund~ too risky for teachers?

The governor shouldn't have sh!t to say about how the fund invests...
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