Experience in emerging markets (EM) teaches the importance of knowing when to react quickly and when to ride out the storm.

“Go West, Young Man, and Grow Up with the Country!”  The famous line from Horace Greeley’s most famous editorial was about capturing and capitalizing on the opportunity and pioneering spirit in the West. Greeley’s East was crowded and stagnant, and the best opportunities and growth lay west of the Mississippi. The availability of exciting, new opportunities and entrepreneurism in the West still applies just as much today, especially for investors.

It’s hard to miss recent news headlines about the “global energy crisis.” Resilient global demand and a lack of sufficient available supply have created an energy crunch that has pushed up global energy prices. Soaring oil, natural gas, and coal prices are happening just as the winter heating season approaches in the Northern Hemisphere and as rising inflation poses an increasing risk to global economic growth.

I began my career in 1994 marketing investment management services to public retirement systems in Texas and throughout the United States. I write this article to share a unique retirement planning concept for both active and retired public employees. 

Information received in response to this Request for Qualifications will also assist the Austin Fire Fighters Relief and Retirement Fund staff in finalizing the scope of work and requirements that may be used at a future date in the issuance of a Cost Proposal or Request for Proposal, according to the RFQ document issued by the Fund. Download the document here. 

When it comes to tackling climate change, there is some consensus around what needs to be done—but solving for the how is much more complicated. In some ways, the urgency around this question has intensified amid the conflict between Russia and Ukraine. While extremely concerning from a humanitarian perspective, the conflict has also accelerated the thinking around energy security and energy independence.

Emerging markets endured a challenging 2021, dragged down mostly by China and South Korea, which represent close to half the index. But the developing world is diverse, and many individual countries did well. We expect improvement on several fronts in 2022, and the outperformance of EM over developed markets in January—despite turbulent market performance—is also encouraging.

We believe the COVID-19 crisis has facilitated a fundamental reshaping of society in how people shop and pay, along with how businesses interact with their employees, customers, and other businesses.

The impact of inflation on defined benefit pension plan liabilities might surprise you. For private plans, the news is mostly good. For public plans, it is more challenging and provides a good reminder that public plan sponsors need to keep making their full pension contributions even if times are difficult.

The Texas House Pension, Investments and Financial Services Committee is hosting a public hearing at 10 a.m. CT on Monday, June 6, 2022, regarding the operation of the Teacher Retirement System of Texas and its school district employee benefits program participation. 

Below is a list of upcoming or recently held interim Texas legislative hearings TEXPERS' System Members and others interested in managing public employee pensions in the state might be interested in following. The topics either directly or indirectly impact pension management or governance issues. 

This week, law enforcement officers from Fort Worth, Mesquite, and the Texas Department of Public Safety are traveling to Washington, D.C., to take part in a memorial service during National Police Week to honor their colleagues who died serving their communities.

The Texas Pension Review Board has posted the draft rule language and board policy related to Funding Soundness Restoration Plans to the state agency's website. 

There are an estimated 15.1 million full-time and 4.7 million part-time employees working in state and local governments in the U.S., according to the 2020 Annual Survey of Public Employment and Payroll, the most recent statistics available from the U.S. Census Bureau. 

The Texas Association of Public Employee Retirement Systems held its 2022 Annual Conference at The Worthington Renaissance Hotel in Fort Worth, Texas, April 3-6, 2022.

Austin Firefighters Relief and Retirement Fund is seeking resumes for a Benefits Specialist. For further information, view the Job Description below:

The Institutional Limited Partners Association's ILPA Institute will be in Austin May 11-12, 2022, offering its executive education programming for trustees. The Private Equity for Trustee course explores the basic aspects of the private equity asset class, the economics of a private equity investment, the current state of the market, and its external perception. The program fee is $1499 and will run from 9 a.m. to 5 p.m. each day at the DLA Piper Austin Office, 303 Colorado St., Suite 3000, in Austin. For more information and to register, contact Mandy Ilk at [email protected].

The following list is a compilation of the upcoming interim legislative hearings that might interest TEXPERS' System Members. Hearing dates and times are subject to change. Please note that additional hearings dates may also be added at any time. Items directly impacting pensions are highlighted in yellow.

The countdown to the start of TEXPERS' 2022 Annual Conference, April 3-6 in Fort Worth, Texas, continues with the announcement of the sponsors of the event's annual golf tournament. On Sunday, April 3, the conference kicks off with the association's annual golf tournament at Rockwood Park Golf Course. 

Due to the impending retirement of three Texas senators, Lt. Gov. Dan Patrick announced on March 23 the appointments of their replacements to serve on committees during the interim leading up to the 88th Legislative Session.