Texas Municipal — assets, returns and funding
Pensions: all tracked plans · Australian super in numbers · Private market performance · the PE statistics · what plans disclose · where they diverge
Texas Municipal (Texas) reported $49.4bn of assets for fiscal year 2025, a one-year investment return of 13.8%, and was 90.4% funded — around the ~80% mark the industry reads as sound.
| Total assets (FY 2025) | $49.4bn |
| 1-year return | 13.8% |
| 5-year return (annualised) | 8.0% |
| 10-year return (annualised) | 8.1% |
| Funded ratio (GASB) | 90.4% |
How the money is invested (asset allocation)
Texas Municipal held 37.5% of its assets in public equities and 22.7% in hedge funds for fiscal year 2025 — the largest of 6 sleeves it reports, with the rest below:
| Public equities | 37.5% |
| Hedge funds | 22.7% |
| Commodities | 19.5% |
| Private equity | 15.5% |
| Other assets | 3.5% |
| Fixed income (bonds) | 1.3% |
Compare Texas Municipal with similar plans
The plans most worth reading Texas Municipal against — similar in size, or invested in the same managers — side by side, each with its own page for the detail:
| Plan | Assets | 1-yr return | Funded ratio | Why comparable |
|---|---|---|---|---|
| Texas Teachers (TRS of Texas) | $226.3bn | 10.8% | 77.5% | Same state — Texas |
| Texas County & District | $56.5bn | 12.6% | 90.7% | Same state — Texas |
| Texas ERS | $40.1bn | 8.9% | 74.4% | Same state — Texas |
| Houston (TX) Police | $8.3bn | 9.4% | 94.2% | Same state — Texas |
| Houston (TX) Firefighters | $5.8bn | 11.9% | 93.3% | Same state — Texas |
| Houston (TX) Municipal | $4.7bn | 11.8% | 76.9% | Same state — Texas |
Questions this page answers
How much does Texas Municipal have in assets?
Texas Municipal reported $49.4bn in total assets for fiscal year 2025, as compiled by the Public Plans Database.
What return did Texas Municipal make on its investments?
Texas Municipal reported a 13.8% one-year investment return for fiscal year 2025, and 8.1% a year over the past ten years, per the Public Plans Database.
Is Texas Municipal fully funded?
Texas Municipal was 90.4% funded for fiscal year 2025 — above the ~80% mark many treat as reasonably sound. US public plans face no federal funding minimum, and actuaries add that the trend matters more than any single line (Public Plans Database).
How is Texas Municipal's money invested?
Texas Municipal held 37.5% of its assets in public equities and 22.7% in hedge funds, its largest sleeves for fiscal year 2025 (Public Plans Database).
See also: all tracked plans · how the private-equity funds these plans invest in have actually performed, from the plans' own disclosures: private market performance, and where plans' numbers diverge on the same fund.