CalSTRS Picks Hermes For Commodities

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.


In Depth

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...