Saturday, April 6, 2019
Texas Retirement System (TRS) Essay Example for Free
Texas Retirement establishment (TRS) EssayYou have been recruited to consult for the Texas Retirement System (TRS). TRS is looking at alternative investment opportunities. They see John Bogles (founder of Vanguard) mantra of scarcely investing in index funds as particularly compelling. Yet, Millers historical record at pry want has been outstanding, and several trustees are in favor of investing with him. Your task to provide a good word to the trustees as to whether or not they should invest with Miller and Value Trust.Again, the case questions are here to simply guide your analysis. You are preparing a professional report for the TRS trustees, and it should be structured accordingly. Also, dont croak a lot of time repeating the facts of the case itself, but certainly use the exhibits to software documentation your assessments.1. How well up has Value Trust performed in recent years? In making that assessment, what benchmark(s) are you using? How do you measure investme nt performance? What does good performance mean to you? 2. What might explain the funds performance? To what extent do you believe an investment strategy, such as Millers, explains performance? 3. How promiscuous will it be to sustain Millers historical performance record into the future? What factors support your conclusion?4. Consider the mutual fund industry. What roles do portfolio managers play? What are the differences between fundamental and adept securities analysis? How well do mutual funds generally perform relative to the overall market place? 5. What is capital-market efficiency? What are its implications for investment performance in general? What are the implications for fund managers, if the market exhibits characteristics of strong, semi-strong, or weak efficiency? 6. As of 2005, would you recommend investing in Millers Value Trust? What beliefs about the equity markets does your answer reflect?