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September 191432013PROCEEDINGSOF THEBoard of TrusteesOF THEPublic School Teachers’ Pension andRetirement Fund of ChicagoRegular Meeting – Official ReportThursday, September 19, 2013A regular meeting of the Board of Trustees of the Public School Teachers’ Pension andRetirement Fund of Chicago was held Thursday, September 19, 2013.The President, Mr. Jay C. Rehak, called the meeting to order at 9:48 a.m.ROLL CALLMembers present: Mr. Jeffery Blackwell, Ms. Bernie Eshoo, Dr. Walter E. Pilditch,Ms. Tina Padilla, Mr. Jay C. Rehak, Ms. Mary Sharon Reilly, Mr. Jerry Travlos,Mr. James F. Ward, Mr. Raymond Wohl, Ms. Andrea L. Zopp – 10.Members absent: Ms. Lois W. Ashford, Dr. Carlos M. Azcoitia – 2.Ms. Lois W. Ashford subsequently arrived during the Asset Liability Study.Also in attendance were Mr. Kevin Huber (Executive Director), Mr. Scott Miller (ChiefLegal Officer), Mr. Joseph Burns of Jacobs, Burns, Orlove and Hernandez (LegalCounsel), Mr. Matthew Shirilla and Mr. Bo Abesamis of Callan Associates (InvestmentConsultant), Ms. Bukola Bello of VISION MAI (Legislative Lobbyist), Ms. Kim Nicholl,Mr. Matthew Strom and Mr. Jake Libauskas of Segal (Actuary), and various observers andstaff members.
September 191442013PUBLIC PARTICIPATIONPresentation by Louis PysterMr. Louis Pyster, a retired member, commented that he felt it was appropriate for theTrustees to keep the health insurance rebate at 60% for 2014. Mr. Pyster commented abouta recent article in the Chicago Tribune regarding UNO Charter School system’s pensionfund contributions and expressed his opinion that it was inappropriate for a CTPF Trusteeto attack UNO. Mr. Pyster stated it would have been more appropriate to wait until information was provided about other charter schools. He further stated that CTPF should seeklegislative change to mandate that a greater number of Charter School teachers be certified.Mr. Pyster also expressed his belief that some CTPF Trustees were attacked for opposingSB1920 (CPS pension funding relief). Ms. Padilla commented that the Trustees don’t haveallegiance to anyone.COMMUNICATIONSIllinois Freedom of Information Act RequestsThe following persons have made requests to the Fund in accordance with the IllinoisFreedom of Information Act. Mr. Matthew Cook-Cunningham, a journalist, requested CTPFe-mails wherein he was implicitly or explicitly mentioned. The requestwas fulfilled. Ms. Amanda Kass, of Center for Tax and Budget Accountability,requested historical data on employer contributions for fiscal years1995-2003. The request was fulfilled. Mr. Colin T. Hughes, of Standard & Poor’s Capital IQ, requestedinformation regarding investment decisions from the August 15, 2013Board Meeting. Mr. Hughes was advised that no investment decisionswere made at the August Board Meeting. Mr. Edward Hershey, a CTPF member, requested membership demographics for active CTPF members. Mr. Hershey was referred to theCTPF website. Ms. Jerusha Dressel, of Trust Builders, Inc., requested actuarialreduction factors used in calculating reversionary annuity retirementbenefits for CTPF. The request was fulfilled.
September 191452013APPROVAL OF MINUTESMotion to Accept Minutes of Regular Board Meeting onAugust 15, 2013, ApprovedA motion was made by Ms. Reilly, seconded by Mr. Ward, and unanimously passed, toapprove the minutes of the Regular Board Meeting on August 15, 2013.REPORT OF THE INVESTMENT CONSULTANTAsset Liability StudyMr. Matthew Shirilla of Callan Associates and Ms. Carmen Heredia-Lopez, ChiefInvestment Officer, presented the results of Callan’s Asset Liability Study which wasfirst presented to the Trustees at the July 25, 2013, Board meeting. The study involvedobtaining liability projections for the Fund’s actuary in order to jointly model assets andliabilities and explore the impact to funded status of the old and new employer contribution policies and various asset allocation mixes. Callan presented the following recommendation: decrease public equity to 58% split evenly between US and non-US equity,maintain private equity at 3%, slightly increase fixed income to 23% while removing thededicated cash allocation, increase the real assets to 14% which includes the inclusion of2% in commodities, and establishing a 2% allocation to diversifying assets.Motion to Adopt Asset Liability Study, ApprovedA motion was made by Mr. Ward, seconded by Ms. Reilly, and unanimously passed, toaccept Option B (summarized above) per the recommendation of the consultant and asoutlined and presented in Callan’s September 3, 2013, Asset Liability Study memorandum.Domestic Equity Manager of Manager ProgramMr. Shirilla reported that at the request of the Trustees, Callan and the CTPF investmentstaff have been reviewing the existing Domestic Equity Manager-of-Manager (MoM) program currently managed by Attucks and Progress. Initial findings suggested that the twoprograms have produced very similar portfolio characteristics. The initial analysis suggested that fee savings could be achieved by consolidating to one domestic equity MoMprogram. The Board determined that providing greater opportunity to MWDBE managerswas a core value and requested that Callan and staff evaluate alternative strategies fromthe two existing managers. Callan reviewed repurposing alternatives.Motion to Keep Attucks and Progress andRepurpose Strategies, ApprovedA motion was made by Mr. Ward, seconded by Dr. Pilditch, and unanimously passed,to keep Attucks and Progress and repurpose the strategies as presented in the Callan’sSeptember 3, 2013, Domestic Equity MoM memorandum.
September 191462013Proxy Voting Services Provider RFPMs. Heredia-Lopez reported that in September 2012, the Board approved key proxy voting themes, and in June 2013, the Board approved a proxy voting policy in response to itsfiduciary responsibility to manage assets of the Fund. A review of the proxy voting optionsshowed that best practices may include hiring a proxy voting agent in order to ensure thatthe policy is followed when voting proxies. Ms. Heredia-Lopez reviewed the proxy vendorsearch. She noted that CTPF investment staff were involved in the search process as wellas Mr. Bo Abesamis of Callan. Ms. Heredia-Lopez stated that two finalists were selectedfor interviews: Glass Lewis & Co. and Marco Consulting. She reviewed how the firmswere evaluated and the selection process and addressed questions raised by the Board.Proxy Voting Presentations byGlass Lewis & Co. and Marco ConsultingRepresentatives of Glass Lewis and Marco Consulting made presentations respectivelyto the Board regarding their proxy voting services. They reviewed their proxy voting services, organization and fees, and addressed questions raised by the Board.Motion to Hire Marco Consulting, ApprovedA motion was made by Mr. Ward, seconded by Mr. Travlos, to hire Marco Consulting toprovide proxy voting services, subject to contract negotiations. The motion passed by thefollowing roll call vote:Ayes: Ms. Eshoo, Dr. Pilditch, Mr. Rehak, Mr. Travlos, Mr. Ward, Ms. Zopp – 6.Nays: Mr. Blackwell, Ms. Padilla, Ms. Reilly, Mr. Wohl – 4.Abstentions: Ms. Ashford – 1.Discussion ensued regarding the diversity numbers within both firm’s organizations.Mr. Wohl stated for the record that it is important for the diversity numbers to be clearlyunderstood.REPORT OF THE COMMITTEE ON INVESTMENTSSeptember 6, 2013, First Friday ManagerMeeting Report PresentedChairperson Ward presented the September 6, 2013, First Friday Meeting report(see Exhibit A attached).Investment Committee ReportsChairperson Ward recommended that the following investment reports be recorded in theproceedings of this meeting.
September 191472013Chicago Teachers' Pension FundAsset Allocation Summary(in millions of dollars)Reporting for the Period ending July 31, 2013 MillionsAsset Allocation% of FundDomestic EquityInternational EquityFixed IncomeReal EstateREITs 3,28833.4% 2,99830.5% 1,71017.4% 7807.9% 2752.8%Private EquityHedge FundInfrastructureCash 2682.7% 400.4% 3333.4% 1401.4%Grand Total 1.4%2.0%-0.58%100.0%100.0%Domestic EquityInternational EquityFixed IncomeReal EstateREITsPrivate EquityHedge FundInfrastructureCashReal Estate 8%Fixed Income18%REITs 3%Private Equity 3%Hedge Fund 0%Infrastructure 3%Cash 1%Difference1.43%Note: Percentages may not add up due to roundingThis report is unaudited and intended for informational purposes only.InternationalEquity 31%Domestic Equity34%2(Investment Summary Report)
September 191482013Chicago Teachers' Pension FundTotal Fund PerformanceReporting for the Period ending July 31, 2013Last 3 MonthsFiscal YTDLast 12 MonthsLast 3 YearsLast 5 YearsLast 10 YearsSince %3.39%14.59%11.08%5.61%7.18%8.16%(January, 1991)Total Fund(Net of Fees)Total FundBenchmark16.00%Total Fund (Net of Fees)Total Fund 0%Last 3 MonthsFiscal YTDThis report is unaudited and intended for informational purposes only.Last 12 MonthsLast 3 Years3(Investment Summary Report)Last 5 YearsLast 10 YearsSince Inception
September 191492013Chicago Teachers' Pension FundInvestment Manager Performance ReportAsset Class SummaryReporting for the Period ending July 31, 2013MonthEnding3 MonthsEndingFiscal YTDEnding12 MonthsEnding3 YearsEnding5 .00%DOMESTIC EQUITYGross of FeesNet of FeesDomestic Equity BenchmarkINTERNATIONAL EQUITYGross of FeesNet of FeesInternational Equity BenchmarkFIXED INCOMEGross of FeesNet of FeesFixed Income BenchmarkREAL ESTATEGross of FeesNet of FeesNFI-ODCE Equal Weight IndexHEDGE FUNDSGross of FeesNet of FeesT-Bill 5%INFRASTRUCTUREGross of FeesNet of FeesBenchmark - AbsoluteThis report is unaudited and intended for informational purposes only.4(Investment Summary Report)
September 191502013Chicago Teachers' Pension FundInvestment Manager Performance ReportDomestic EquityReporting for the Period ending July 31, 2013MonthEnding3 MonthsEndingFiscal YTDEnding12 MonthsEnding3 YearsEnding5 /13 %8.32%8.31%8.26%9.33%9.32%9.40%Gross of FeesNet of FeesRussell 1000 %4.25%4.24%4.05%Waddell & Reed LCCGross of FeesNet of FeesRussell 1000 DOMESTIC EQUITYGross of FeesNet of FeesDomestic Equity BenchmarkNTGI 500 Index LCCGross of FeesNet of FeesS&P 500 Index4/1990Rhumbline Rsl 1000 LCCM5/20071/1991Holland LCGMGross of FeesNet of FeesRussell 1000 Growth1/1994(Domestic Equity continued on next page)M Minority ManagerThis report is unaudited and intended for informational purposes only.5(Investment Summary Report)
September 191512013Chicago Teachers' Pension FundInvestment Manager Performance ReportDomestic EquityReporting for the Period ending July 31, 2013MonthEnding3 MonthsEndingFiscal YTDEnding12 MonthsEnding3 YearsEnding5 /13 18%10.81%10.30%9.09%10.63%10.19%7.95%Gross of FeesNet of FeesChanning BenchmarkRussell 3000 Value .35%BMO Global-Harris LCVGross of FeesNet of FeesRussell 1000 Value %6.45%6.15%3.72%SinceInceptionDateDOMESTIC EQUITYRhumbline Rsl 1000 LCGMGross of FeesNet of FeesRussell 1000 Growth9/2007MZevenbergen US ACEGross of FeesNet of FeesRussell 3000 Growth IndexChanning US ACE*9/1992M6/20097/1999Channing US ACE* - As of October, 2011, Channing's mandate was changed from Mid Cap Value (Inception 6/2009) to All Cap Value.Channing Benchmark reflects Russell Mid Cap Value Index through 9/30/11 and Russell 3000 Value Index thereafter.M Minority Manager(Domestic Equity continued on next page)This report is unaudited and intended for informational purposes only.6(Investment Summary Report)
September 191522013Chicago Teachers' Pension FundInvestment Manager Performance ReportDomestic EquityReporting for the Period ending July 31, 2013MonthEnding3 MonthsEndingFiscal YTDEnding12 MonthsEnding3 YearsEnding5 /13 TIC EQUITYMLombardia LCV10/2004Gross of FeesNet of FeesRussell 1000 Value IndexNTGI Structured SCCGross of FeesNet of FeesRussell 2000 Index12/1990MAriel SCV6/1994Gross of FeesNet of FeesRussell 2000 Value IndexAttucks Asst Mgmt DE MOMGross of FeesNet of FeesRussell 3000 IndexProgress Invest DE MOMGross of FeesNet of FeesRussell 3000 IndexMM7/2004M7/2004 Minority ManagerThis report is unaudited and intended for informational purposes only.7(Investment Summary Report)
September 191532013Chicago Teachers' Pension FundInvestment Manager Performance ReportInternational EquityReporting for the Period ending July 31, 2013MonthEnding3 MonthsEndingFiscal YTDEnding12 MonthsEnding3 YearsEnding5 0%1.25%6.20%5.78%4.99%INTERNATIONAL EQUITYGross of FeesNet of FeesInternational Equity BenchmarkDupont EMEGross of FeesNet of FeesMSCI ACWI ex US Index2/2013MEarnest Partners EMEGross of FeesNet of FeesMSCI ACWI ex US Index2/2013MEarnest Partners ILCEGross of FeesNet of FeesMSCI ACWI ex US IndexLazard ILCE**Gross of FeesNet of FeesLazard Benchmark3/200712/2000**Lazard ILCE Benchmark reflects the MSCI EAFE Index through 6/30/02 and MSCI ACWI ex-US Index thereafter.M Minority Manager(International Equity continued on next page)This report is unaudited and intended for informational purposes only.8(Investment Summary Report)
September 191542013Chicago Teachers' Pension FundInvestment Manager Performance ReportInternational EquityReporting for the Period ending July 31, 2013MonthEnding3 MonthsEndingFiscal YTDEnding12 MonthsEnding3 YearsEnding5 37/31/13InceptionInceptionDateINTERNATIONAL EQUITYMorgan Stanley ILCEGross of FeesNet of FeesMSCI EAFE IndexNTGI EAFE ILCEGross of FeesNet of FeesMSCI EAFE IndexNTGI EAFE ILCVGross of FeesNet of FeesMSCI EAFE Value ading Edge IE MOMMGross of FeesNet of FeesMSCI ACWI ex US IndexDFA ISCVGross of FeesNet of FeesMSCI World Small Cap ex USMSCI ACWI ex US SC ValueM3/20105/2012 Minority Manager(International Equity continued on next page)This report is unaudited and intended for informational purposes only.9(Investment Summary Report)
September 191552013Chicago Teachers' Pension FundInvestment Manager Performance ReportInternational EquityReporting for the Period ending July 31, 2013MonthEnding3 MonthsEndingFiscal YTDEnding12 MonthsEnding3 YearsEnding5 37/31/13InceptionInceptionDateINTERNATIONAL EQUITYWilliam Blair ILACGGross of FeesNet of FeesMSCI ACWI ex US IMI 11.63%11.19%7.17%William Blair ISCEGross of FeesNet of FeesMSCI ACWI Sm Cap ex-USMSCI World ex-US SC .71%This report is unaudited and intended for informational purposes only.1/20103/200710(Investment Summary Report)
September 191562013Chicago Teachers' Pension FundInvestment Manager Performance ReportFixed IncomeReporting for the Period ending July 31, 2013MonthEnding3 MonthsEndingFiscal YTDEnding12 MonthsEnding3 YearsEnding5 3%3.45%3.25%2.88%FIXED INCOMEGross of FeesNet of FeesFixed Income BenchmarkNTGI Gov/Credit Index FIGross of FeesNet of FeesBC Government/Credit Index12/1993Garcia Hamilton FICMGross of FeesNet of FeesBC Aggregate Index9/2010LM Capital FICP***MGross of FeesNet of FeesBC Aggregate Index10/2004Pugh FICMGross of FeesNet of FeesBC Aggregate Index9/2010LM Capital FICP*** - As of 3/1/13 LM Capital's mandate was changed from Core to Core Plus.M Minority Manager(Fixed Income continued on next page)This report is unaudited and intended for informational purposes only.11(Investment Summary Report)
September 191572013Chicago Teachers' Pension FundInvestment Manager Performance ReportFixed IncomeReporting for the Period ending July 31, 2013MonthEnding3 MonthsEndingFiscal YTDEnding12 MonthsEnding3 YearsEnding5 37/31/13InceptionInceptionDateFIXED INCOMETaplin Canida FIGross of FeesNet of FeesBC Aggregate %4.60%4.44%4.68%WAMCO FICPGross of FeesNet of FeesBC Aggregate .89%5.71%4.69%This report is unaudited and intended for informational purposes only.10/20042/200312(Investment Summary Report)
September 191582013Chicago Teachers' Pension FundInvestment Manager Performance ReportReal Estate Investment Trust (REITs)Reporting for the Period ending July 31, 2013MonthEnding3 MonthsEndingFiscal YTDEnding12 MonthsEnding3 YearsEnding5 7.17%3.95%3.64%5.78%Morgan Stanley REIT****Gross of FeesNet of FeesEPRA/NAREIT Dev REIT .67%10.42%9.78%8.86%CenterSquare (Urdang) REIT*****Gross of FeesNet of FeesUrdang 35%5.89%11.10%11.00%9.56%REAL ESTATEGross of FeesNet of FeesNFI-ODCE Equal Weight IndexREITsGross of FeesNet of FeesNAREITMAdelante Capital REITGross of FeesNet of FeesNAREIT Equity Index5/20065/19989/2003****Morgan Stanley Global REIT account was opened in 1/2007. Prior data is from the Morgan Stanley Domestic REIT account.*****Urdang Benchmark reflects the NAREIT Equity Index through 6/30/12 and EPRA/NAREIT Dev REIT Index thereafter.M13 Minority ManagerThis report is unaudited and intended for informational purposes only.(Investment Summary Report)
September 191592013Chicago Teachers' Pension FundInvestment Manager Performance ReportHedge FundsReporting for the Period ending July 31, 2013MonthEnding3 MonthsEndingFiscal YTDEnding12 MonthsEnding3 YearsEnding5 /13 InceptionGross of FeesNet of FeesT-Bill 5.11%K2 Advisors HFOFGross of FeesNet of FeesT-Bill 11%Mesirow Abs Rtn HFOFGross of FeesNet of FeesT-Bill DateHEDGE FUNDS10/200910/2009Pluscios Mgmt HFOFMGross of FeesNet of FeesT-Bill 5%HFRX Glbl Hdge Fd IdxM11/2010 Minority ManagerThis report is unaudited and intended for informational purposes only.14(Investment Summary Report)
September 191602013Chicago Teachers' Pension FundInvestment Manager Performance ReportInfrastructureReporting for the Period ending July 31, 2013MonthEnding3 MonthsEndingFiscal YTDEnding12 MonthsEnding3 YearsEnding5 0%7.04%6.56%8.00%JP Morgan Infr-OEGross of FeesNet of FeesBenchmark - uarie (MIP II) InfrGross of FeesNet of FeesBenchmark - Macquarie European Fd III InfrGross of FeesNet of FeesBenchmark - FRASTRUCTUREGross of FeesNet of FeesBenchmark - AbsoluteThis report is unaudited and intended for informational purposes only.11/20089/200810/200815(Investment Summary Report)
September 191612013Chicago Teachers' Pension FundWatch List SummaryReporting for the Period ending July 31, 2013CurrentManagerLombardia LCVAUM(inmillions) 194.1Date WatchStartedBoard ActionsReasonNov 2011: Placed on Watch List &MonitorPerformanceNov, 2011# Monthson Watch20Last DueDiligenceMeetingJuly, 2012Nov 2012: Reduce Assets of 100M dueto continued poor performance &MonitorNotesAUM when placed on Watch List was 222.0.Assets were reduced by 100M in early2013.Zevenbergen US ACE 110.1Nov 2012: Placed on Watch List &MonitorPerformanceNov, 20128June, 2013AUM when placed on Watch List was 77.6.Waddell & Reed 154.3April 2013: Placed on Watch List &MonitorBrokerageApril, 20133July, 2012AUM when placed on Watch List was 143.1. Waddell & Reed missed theirMinority Brokerage useage goals for2012. The minority brokerage goal is50%. They had a minority brokerageuseage of 47%. Due to our Watch Listguideline, Waddell must be placed onthe Watch List for the next year.Progress Invest Mgmt 173.7May 2013: Placed on Watch List &MonitorPerformanceMay, 20132June, 2013AUM when placed on Watch List was 167.0. Placed on Watch List due tounder performance during the last 2quarters vs peers and benchmark.PRISA 123.4July 2013: Placed on Watch List &MonitorThis report is unaudited and intended for informational purposes only.Performance16July, 2013(Investment Summary Report)0February, 2013AUM when placed on Watch List was 123.4. Placed on Watch List due toperformance below the benchmark for2 conseutive quarters.
September 191622013Chicago Teachers' Pension FundMarket Values & Diversity by Manager(in millions of dollars)Reporting for the Period ending July 31, 2013Ethnicity% Asset%ClassFundMarket ValueDifference(in millions)(mth-to-mth)7/31/20136/30/2013 %Domestic EquityAttucks (Manager of Managers)1%0%Attucks-Apex LCG21.920.71.25%Female0%0%Attucks-Campbell LCE9.08.50.56%African AmericanAsian American0%0%Attucks-Cash Acct LCE0.00.00.00%African American0%0%Attucks-Decatur LCE11.210.60.65%Latino1%0%Attucks-Fortaleza LCG21.219.91.36%African American1%0%Attucks-Herndon LCV20.819.90.94%Latino1%0%Attucks-Lombardia SCV23.822.21.67%Female1%0%Attucks-Nicholas SCG22.220.91.36%African American1%0%Attucks-Paradigm LCV22.521.31.212.611.80.86%8.88.30.56%Asian American0%0%Attucks-Phocas LCVAfrican American0%0%Attucks-StoneRidge LCEAfrican American3%1%5%Attucks TOTAL174.0164.19.96%Channing US ACE106.199.07.17%Progress Invest Mgmt (Manager of Managers)Asian American1%0%Progress-Affinity LCV21.31.25%African American0%0%Progress-Cash Acct LCE0.00.00.00%African American0%0%Progress-Decatur MCG22.513.112.40.75%Latino0%0%Progress-Fortaleza SCG8.78.20.56%African American0%0%Progress-GW Capital SCV9.48.80.66%Female0%0%Progress-Hahn MCG15.414.50.96%African American1%0%Progress-Herndon LCG18.617.31.37%African American1%0%Progress-Herndon LCV28.927.71.24%African American1%0%Progress-Profit LCG26.124.71.4Female1%1%Progress-Redwood LCE31.029.41.65%9.45%Progress Investment Mgmt TOTALFemale173.7164.35%3%1%Zevenbergen US ACE110.1100.29.99%17%6%Subtotal - U.S. All Capitalization Equity563.9527.636.36%(Domestic Equity continued on next page)This report is unaudited and intended for informational purposes only.17(Investment Summary Report)
September 191632013Chicago Teachers' Pension FundMarket Values & Diversity by Manager(in millions of dollars)Reporting for the Period ending July 31, 2013Ethnicity% Asset%ClassFundMarket ValueDifference(in millions)(mth-to-mth)7/31/20136/30/2013 %Majority9%3%BMO Global-Harris LCV310.1292.118.0African American7%2%Holland LCG228.5218.210.35%Latino6%2%Lombardia LCV194.1181.812.36%6%Majority22%7%NTGI 500 Index LCC726.2692.533.75%Female14%5%Rhumbline Rsl1000 LCC475.1452.023.15%Female13%4%Rhumbline Rsl1000 LCG411.3391.719.6Majority5%2%Waddell & Reed l - U.S. Large Capitalization Equity5%African American3%1%Ariel SCV113.4105.87.67%Majority0%7%1%2%NTGI Structured SCCSubtotal - U.S. Small Capitalization 3111.3176.35%Domestic Equity TotalsAfrican AmericanAsian AmericanLatinoFemaleDisabledMultipleMajorityAsset Class TotalThis report is unaudited and intended for informational purposes only.Total Domestic Equity% Asset Class# of AcctsMarket Value1434700432607.457.0247.81074.10.00.01301.3 estment Summary Report)
September 191642013Chicago Teachers' Pension FundMarket Values & Diversity by Manager(in millions of dollars)Reporting for the Period ending July 31, 2013Ethnicity% Asset%ClassFundMarket ValueDifference(in millions)(mth-to-mth)7/31/20136/30/2013 %International EquityAfrican American19%5%Earnest Partners ILCE475.8458.717.14%Majority23%6%Lazard Asset Mgt ILCE570.9544.926.05%Asian American0%0%LEIA-Cash Acct IELeading Edge Invest Adv (Manager of Managers)0.00.00.00%Latino1%0%LEIA-Ativo IE24.824.00.83%African American1%0%LEIA-Herndon IE19.018.40.63%African American1%0%LEIA-Brown IE18.918.10.84%Latino0%0%LEIA-Lombardia IEV11.010.10.98%Female1%1%LEIA-Cheswold IE18.317.40.95%Asian American1%0%LEIA-John Hsu IEG13.112.30.8Asian American0%0%LEIA-Victoria IE4.04.06%0.00%Leading Edge Investt Adv TOTAL109.1104.34.84%Majority24%6%Morgan Stanley ILCE610.2590.519.73%Majority6%1%NTGI EAFE ILCE144.5137.86.75%Majority3%1%NTGI EAFE 95.42,405.621.699.84%4%William Blair ILACGSubtotal - International Large Cap Equity(International Equity continued on next page)This report is unaudited and
Public School Teachers' Pension and Retirement Fund of Chicago _ Regular Meeting - Official Report Thursday, September 19, 2013 . Trustees to keep the health insurance rebate at 60% for 2014. Mr. Pyster commented about . Chicago Teachers' Pension Fund Total Fund Performance Reporting for the Period ending July 31, 2013 0.00% 2.00% 4.00%
