US - The California State Teachers' Retirement System (CalSTRS) has launched a search for a real estate consultant to work for the scheme's investment committee.
The system issued a request for proposals without an estimated value of the contract, but stated it could last up to five years.
CalSTRS also stipulated the applicants should be based in California, but be familiar with both domestic and international real estate, including public, private and real estate backed mortgage investments.
At the end of June 2007, CalSTRS held $16.4bn in real estate making up nearly 28% of its total portfolio.
This allocation ended at the end of the fiscal year, producing a 32.9% return.
CalSTRS posted a 21% overall return on investments in the last fiscal year, adding $26bn to the fund with $170.4bn in assets under management as of 30 June 2007.
University College Union (UCU) and Universities UK have appointed Joanne Segars to chair the joint expert panel to examine the valuation of the Universities Superannuation Scheme (USS).
The Pensions Regulator (TPR) was right to use its powers to seek financial support from ITV for members of the Box Clever pension scheme, the Upper Tribunal has said.
All 6,000 UK schemes had a surplus of £361bn by the end of last month when calculated under a best estimate return on their assets, according to First Actuarial.
Research highlights confusion about where responsibility to support members on transfers lies. Kim Kaveh looks at the key findings.