CalSTRS develops fund of funds

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US - The US$174bn California State Teachers' Retirement System (CalSTRS) has selected four investment managers to oversee the construction of a fund of funds for the scheme's $1.8bn US Equities Developing Manager Program.

The asset managers chosen were Bivium Capital Management, Leading Edge Investment Advisors and Progress Investment Management, based in San Francisco, and Capital Prospects, based in Stanford. ...

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