Tuesday, 7 July 2015
Last updated 26 min ago
Sep 13 2013 | 10:53am ET
The California State Teachers' Retirement System has hired Hermes Fund Managers to fill a commodities mandate.
Hermes will be one of two commodities managers at the $150 billion public pension fund, the second-largest in the U.S. CalSTRS has not settled on a second manager, Reuters reports.
Hermes and the second manager will split $150 million.
CalSTRS first approved a commodities allocation three years ago, and had considered investing as much as $2.5 billion as an inflation hedge.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…