Jase Auby is Chief Investment Officer for the Teacher Retirement System of Texas. Appointed CIO in December 2019, Mr. Auby has oversight over one of the largest investment funds ($204 billion) in the world. The Trust’s asset allocation consists of Global Equity (54%), Stable Value (includes fixed income and hedge funds, 21%), Real Return (21%), and Risk Parity (8%). The allocation sums to 104% and therefore has leverage at the asset allocation level. Private asset classes within the allocation total 35% and include private equity, real estate as well as energy, natural resources, and infrastructure. TRS is a pioneer among U.S. funds having opened a foreign office in London in 2015. TRS is headquartered in Austin, TX and provides retirement benefits to 1.8 million members, and targets a long-term return of 7.25%. TRS invests in more than 15,000 businesses in 54 different countries around the world.