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University of Texas System gets more aggressive with its investments.

Knight Ridder/Tribune Business News

| July 27, 2004 | COPYRIGHT 1999 Knight-Ridder/Tribune Business News. (Hide copyright information)Copyright

By Patrick McGee, Fort Worth Star-Telegram, Texas Knight Ridder/Tribune Business News

Jul. 27--The University of Texas System has more aggressively invested $16 billion in assets this year, putting more than 20 percent of that money in hedge funds, which are largely secretive and unregulated.

The strategy overseen by a board appointed by the UT System regents has sparked debate among regents who usually show consensus in public.

In a July 12 memo, outgoing regent Charles Miller said the University of Texas Investment Management Company's fund management might be "too speculative" and "headed in the direction of assuming additional risk." …

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