Texan pension fund rounds up 2012 sec lending results
18 April 2013 Texas
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The Teacher Retirement System of Texas’s (TRS) 2012 annual financial report recorded that, out of total assets of $134 billion, it invested $454 million of securities lending collateral.
Interest, dividends and securities lending income (net of investing activity expenses of $153 million) was $1.88 billion.
It was reported that the pension fund has earned a total of $940 million in securities lending revenue from the start of its programme in 2002, to the year end of 2012.
In 2012, the pension fund had an average pool of lendable assets of $60.5 billion, with the average use of those assets by borrowers throughout the year standing at 37 percent.
US Treasury debt was the biggest earner for the pension fund, generating revenue of $55.1 million in 2012. The next highest revenue was US equity at $28.3 million, followed by non-US equity at $21.1 million.
Interest, dividends and securities lending income (net of investing activity expenses of $153 million) was $1.88 billion.
It was reported that the pension fund has earned a total of $940 million in securities lending revenue from the start of its programme in 2002, to the year end of 2012.
In 2012, the pension fund had an average pool of lendable assets of $60.5 billion, with the average use of those assets by borrowers throughout the year standing at 37 percent.
US Treasury debt was the biggest earner for the pension fund, generating revenue of $55.1 million in 2012. The next highest revenue was US equity at $28.3 million, followed by non-US equity at $21.1 million.
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