Ill. Pension Fund Heavy Into OTC Derivatives

11 Jun 2010

Experts say the Illinois Teachers’ Retirement System’s investment in over-the-counter derivatives was so extensive that it was more similar to a hedge fund or bank proprietary desk than to a state pension fund.

Experts say the Illinois Teachers’ Retirement System’s investment in over-the-counter derivatives was so extensive that it was more similar to a hedge fund or bank proprietary desk than to a state pension fund. A government report indicated that TRS has lost so much from the investments that it ...

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