New York State Teachers' Retirement System, Albany, has licensed Capital Management Sciences' BondEdge for Windows, an analytical software product. About 15%, or $11.5 billion of the fund's total assets of $77 billion, are allocated to domestic fixed income and managed internally, said Matthew Fitzgerald, investment officer for fixed income.
The fund wants the software to help in the regular review of its allocation strategy and to extensively analyze its fixed-income portfolio, he said.
New York State Teachers' Retirement System, Albany, approved a search for active international equity managers to manage up to $1 billion of the fund's $77 billion. RFPs are being prepared, although there is no deadline for the search.
New York State Teachers' officials hope the move will lead to better performance, said Candice Ronesi, spokeswoman. Most of the $1 billion would come from passively managed international equities, she said.
Mercer will assist.
