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 ...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
