PERAC Memo #7 - 1998: Pooled Funds

Pooled Funds

Summary

PERAC Memo #7/1998 updates the ledger account structure used to classify pooled fund investments, discontinuing several outdated accounts (e.g., real estate, venture capital, international, PRIT Cash, Treasurers' Masters Trust) and replacing them with new, more specific accounts covering short-term, equity, fixed income, alternative, real estate, and balanced fund categories. Boards should begin using the new ledger numbers effective January 1, 1998, and should reference the attached system-specific list to properly reclassify their pooled fund holdings accordingly.

Full Text

PERAC MEMO #7/1998 M E M O R A N D U M TO:All Retirement Systems FROM:Jim Waldman RE:Pooled Funds DATE:January 30, 1998 In order to facilitate the identification and classification of the various types of pooled funds, we are establishing or renaming ledger accounts for each type of asset classification. At the same time we are eliminating ledger accounts that are no longer being used. The use of these accounts will commence on January 1, 1998. We are attaching for your convenience a list of your system’s pooled funds with the new ledger number identified. Please do not hesitate to contact me if you have any questions. The following pooled ledger accounts are to be discontinued: 1172-Mutual or Commingled Real Estate Funds 1173-Mutual or Commingled Venture Capital Funds 1174-International Investments 1198-PRIT Cash Fund 1181-Treasurers’ Masters Trust The following pooled ledger accounts are to be added: For Short Term Investments: 1101-Pooled Short Term Funds For Equities: 1172-Pooled Domestic Equity Funds 1173-Pooled International Equity Funds 1174-Pooled Global Equity Funds (Domestic and International Equities) For Fixed Income Securities: 1181-Pooled Domestic Fixed Income Funds 1182-Pooled International Fixed Income Funds 1183-Pooled Global Fixed Income Funds (Domestic and International Fixed Income) For Alternative Investments: 1193-Pooled Alternative Investments/Private Equity (Venture Capital) For Real Estate Investments: 1194-Pooled Real Estate Funds For Balanced Fund Investments: 1195-Pooled Domestic Balanced Funds (Domestic Equities and Fixed Income) 1196-Pooled International Balanced Funds (International Equities and Fixed Income)