A world of investments

Dallas Police and Fire Pension System trustees and employees have traveled the world to monitor their holdings, investments and new opportunities.

Since 2007, pension officials have taken at least 18 trips each involving multiple officials to Napa County, where the fund owns a luxury resort, vineyard and dozens of luxury estate lots.

Napa County

During one trip in the fall of 2009, nine board members and staffers traveled to Europe. Among them, they attended five investment conferences in Edinburgh, Scotland; Florence, Italy; Athens, Greece; Madrid, Spain; and Amsterdam and Rotterdam in the Netherlands.

Europe

Pension officials in recent years have taken several trips to Hawaii, where the fund has owned several ultra-luxury homes. In 2011, the fund had to write down the value of the homes by millions.
SOURCE: Dallas Morning News research

Hawaii

Two years in a row, in 2008 and 2009, pension officials traveled to a world energy conference in Abu Dhabi. During the second conference, seven pension officials made the trip, submitting expenses totaling $110,297.

Abu Dhabi

Australia

In Australia, the fund owns several investments, including farmlands that produce nuts and wine grapes. Over the years the fund has profited by selling grapes to the winery that produces Yellow Tail wine. Several pension officials visited in 2008.
Troy Oxford/Staff Artist