Monday, 28 July 2014
Last updated 15 min ago
Jun 16 2006 | 9:58pm ET
The $142 billion California State Teachers Retirement System will issue an RFP later this year for active currency overlay managers. The managers will run 15-20% of the plan's $32 billion international portfolio, or roughly $4.8 billion to $6.4 billion, said Brenna Neuharth, spokeswoman for the plan.
Funding will come from the plan's internally-managed currency program, which runs half of the plan's currency exposure. The other half is run by international managers who are responsible for implementing currency risk. The RFP is likely to be issued late in the fourth quarter.
According to a staff memo, the active managers are expected to add up to 20 basis points to the fund. The plan's consultant is Callan Associates.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…