Chicago Teachers’ Pension Fund Submits Ninth Annual Report On Illinois Economic Opportunity Investments
Trustees highlight investment opportunities that contribute to the growth of the Illinois economy
CHICAGO – September 12, 2018 – The Chicago Teachers’ Pension Fund (CTPF) submitted its ninth annual report on Illinois Economic Opportunity Investments to the Governor and the Illinois General Assembly. As of June 30, 2018, CTPF employed 17 Illinois-based investment managers who managed assets with a market value of $3.3 billion. These assets represented 30.6% of CTPF’s investment portfolio.
“Our Board’s commitment to supporting economic development opportunity, while achieving a competitive rate of return for the Fund, has repeatedly been affirmed in our annual Illinois Economic Opportunity Investments report sent to the Governor and the General Assembly. Illinois-managed assets account for more than 30 percent of our portfolio, and we appreciate the opportunity to highlight these commitments which further support economic activity in Illinois,” stated Jay C. Rehak, President of the CTPF Board of Trustees.
CTPF Trustees strive to select Illinois-based managers, with all other factors being equal, and to utilize investment opportunities which contribute to the growth of the Illinois economy.
The detailed report includes Illinois-based investment manager firms investing on behalf of CTPF, Illinois-based private equity partnerships, Illinois portfolio companies and real estate properties in the CTPF portfolio; Illinois-based public equity market value of shares held in CTPF’s portfolio, Illinois-based fixed income market value of shares held in CTPF’s portfolio, domestic equity brokerage commissions paid to Illinois-based brokers/dealers, international equity brokerage commissions paid to Illinois-based brokers/dealers, and fixed income volume traded through Illinois-based brokers/dealers (par value).
Established by the Illinois state legislature in 1895, the Chicago Teachers’ Pension Fund manages members’ assets and administers benefits. The $10.8 billion pension fund serves nearly 86,000 members and provides pension and health insurance benefits to more than 28,000 beneficiaries. A majority of CTPF annuitants (84%) live in Illinois and the $1.3 billion in pension payments they receive generate $1.9 billion in total economic impact for the state.