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Jase Auby is Chief Investment Officer for the Teacher Retirement System of Texas
Auby has oversight over one of the largest investment funds ($179 billion) in the world
The Trust's asset allocation consists of Global Equity (54%)
Stable Value (includes fixed income and hedge funds
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
funds having opened a foreign office in London in 2015
TX and provides retirement benefits to more than 1.9 million active and retired educators and targets a long term return of 7.00%.Prior to his current role as CIO
and head of the Risk Group responsible for managing and budgeting the risk of the overall investment Fund
He oversaw the development and management of innovative investment strategies including risk parity
reinsurance and currency management.Prior to joining TRS in 2009
Auby worked with two startup companies in Austin
he structured credit securitizations as a part of the structured credit group at Lehman Brothers
Auby began his career in an investment management industry resource group as a part of the fixed income division at Goldman Sachs
He received a BS in electrical and computer systems engineering from Harvard College and he is a CFA charter holder
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The Teacher Retirement System of Texas has named deputy CIO Jase Auby as its chief investment officer
replacing Jerry Albright at the state’s largest public pension fund
will remain at the pension for as long as one year as senior managing director of global investment initiatives
[II Deep Dive: Leadership Is Changing at Texas Teachers, Washington State Investment Board]
“It has been the honor of my lifetime to serve the members of TRS in many roles over the past twenty-five years,” Albright said in the statement
“I end my tenure as CIO knowing that we have weathered some financial storms
but the fund and its strategy are on the right path for our members.”
TRS is the largest public retirement system in Texas
serving over 1.6 million people and managing more than $157 billion of assets
Auby’s new role at the pension is the final step in a leadership succession plan that Albright had presented to the board in 2016
Albright was named CIO in 2017 to replace Britt Harris
who left the retirement system for the University of Texas’s endowment
and director of investment operations before taking the reins from Harris
“Jerry’s enthusiasm for public service will leave a lasting mark on our agency,” said Brian Guthrie
“I look forward to working with Jase Auby as he transitions into his new role and I fully support Auby’s promotion to CIO.”
March 17: Belgium-based global metal mining company Nyrstar announced today that it will restart its Auby zinc smelter in France
Nyrstar said: the Auby zinc smelter will control production in the next few weeks
but current electricity prices prevent its smelter in Europe from operating at full capacity
The company cut capacity at its three European smelters by 50 per cent in October 2021 before closing its Auby plant in France as electricity prices continued to soar
The production capacity of Nyrstar's three smelters is: Budel (in the Netherlands) 293000 tons / year
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The decision comes in response to a significant rise in power prices in France
Belgium-based global metals firm Nyrstar plans to place its operations in Auby
on care and maintenance from the first week of January 2022
The decision comes in response to significantly increased current and anticipated future prices of electricity in the country
already at historically high levels across Europe
have continued to rise in recent weeks in France
in excess of neighbouring European countries
“This is as a result of low availability of nuclear power
high carbon-related costs passed on by power companies and reduced fixed-price allowances for the industry.”
Nyrstar said that electricity prices in early 2022 in France could stay high and volatile
the firm plans to undertake maintenance and continue planned investment into the project
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employees at the Auby operations would be redirected to work on training maintenance and investment projects
The firm plans to resume production at Auby once it is economically viable
Nyrstar operates a mid-scale electrolytic zinc smelter
which produces cathodes as finished products
It uses both zinc concentrates and zinc secondaries as feedstock
The smelter is designed to process a high percentage of secondary feed material to produce SHG cathode and some extra pure quality cathodes
The site also produces by-products of sulphuric acid
Nystar will continue to run its three European operations in France
though with a production reduction of up to 50% due to high power prices
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