US - State Street and Northern Trust have lost US$900m in funds managed on behalf of the Teachers' Retirement System of the State of Illinois (TRS) on the back of the fund's decision to transfer the combined US$1.8bn managed by the firms in equity index accounts funds to enhanced index products.
At its May meeting in Springfield, the Board of trustees decided to hire Barclays Global Investments and T. Rowe Price to manage US$900m each in S&P 500 stocks-based enhanced index products. Funds ...
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