Teachers' Retirement System of the City of New York trustees passed a...

Teachers’ Retirement System of the City of New York trustees passed a resolution to reallocate the $8.58 billion Russell 3000 index fund run by Deutsche Asset Management to the system’s $16.8 billion Variable Annuity A Funds, said Donald Miller, executive director. The system hired Amalgamated Bank to manage $250 million in a Long View S&P 1500 index fund; Mellon Capital, to manage 50% of the remaining assets, or around $4.16 billion, as of Sept. 30, in a Russell 3000 index fund; and Barclays Global Investors to manage the other 50% in a Russell 3000 index fund. The system also hired Barclays to manage $888 million in an EAFE index fund previously handled by Deutsche. The reallocations were made in order to diversify assets, Mr. Miller said.