Teachers' Retirement System of Illinois trustees today voted to hire Barclays Global Investors and T. Rowe Price to manage $900 million each in enhanced S&P 500 index funds. Funding will come from reducing equity index funds managed by State Street Global Advisors and Northern Trust Global Investments, said John Day, a TRS spokesman. Callan Associates assisted.
The board of the $33.1 billion Springfield, Ill.-based fund also approved a staff recommendation for a $500 million emerging managers program that will be internally administered. Qualified managers can complete a questionnaire that will be available on the plan's website, http://trs.illinois.gov on July 1.
Trustees were also told the system returned 8.5% for the year ended March 31. According to performance reporting from Callan, the fund was in the top 20% of large public pension plans for the one-, three- and five-year periods ended March 31.