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No. 2 U.S. pension fund CalSTRS picks Hermes as commodities manager

Posted on 13 September 2013

The California State Teachers’ Retirement System said it has picked Hermes Fund Managers to be one of its two commodity managers, the first major step toward realizing the portfolio approved three years ago as an inflation hedge.
CalSTRS, the second largest U.S. pension fund with about $150 billion in assets, had considered a $2.5 billion allocation when it first studied a foray into commodity markets in 2010. It eventually settled on a portfolio of $150 million………………………………………..Full Article: Source


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