Deals and People February 7, 2011

TRS of Texas Names New Executive Director

February 7, 2011 (PLANSPONSOR.com) - The Teacher Retirement System of Texas (TRS) Board of Trustees has announced the appointment of Brian Guthrie as the system’s new executive director, effective September 1, 2011.
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As TRS executive director, Guthrie will oversee pension plan and related benefits for TRS — the sixth largest public pension fund in the United States — which serves active and retired Texas public education and higher education employees.   

According to the announcement, Guthrie has served as TRS deputy director since September 2008. Previously he was deputy director of the Governor’s Office of Budget, Planning & Policy, Austin.  

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Guthrie obtained a Masters in Public Affairs from the LBJ School of Public Affairs at the University of Texas-Austin and obtained BA’s in Economics and History from Franklin and Marshall College, in Lancaster, Pennsylvania.   

Current TRS Executive Director Ronnie Jung will continue to serve in that capacity until September 2011. Jung has agreed to then serve as executive liaison to the TRS board where he will assist Guthrie and the trustees during a period of transition through January 31, 2012.
Products February 7, 2011

Investment Manager Releases Long/Short Fund

February 7, 2011 (PLANSPONSOR.com) – 361° Capital, an investment management firm focused historically on managing alternative investments for institutions, has launched its first mutual fund, the 361° Absolute Alpha Fund.
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The 361⁰ Absolute Alpha Fund is a multi-manager Long/Short equity fund that is designed with the intent to provide capital appreciation with low volatility and low correlation relative to the broad domestic and foreign equity markets, according to the announcement. The 361⁰ Capital Absolute Alpha Fund offers investors access to both high alpha producing external managers and an overlay of historically successful risk management techniques which seek to hedge against downturns in the equity markets.

According to the company, the fund’s selected managers include hedge fund managers and other investment firms that 361°Capital has invested with for many years through its institutional hedge fund of funds portfolios.

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The fund will be available to investment advisers and institutions. The fund is available in A shares (symbol AAFAX) with a 5.75% front end load that can also be used in load waived, fee-based accounts. The fund also issues institutional I shares (symbol AAFIX) that require a $1 million minimum purchase.

More information is at www.361funds.com. 

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