CalSTRS To Issue Currency Overlay RFP Later This Year

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.


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Vortic: Making Great American Watches Again

Jul 25 2016 | 6:29pm ET

If you are compelled by stories of entrepreneurial vision & drive, or simply...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...