CalSTRS allocated an additional $225 million to its emerging managers program, said spokeswoman Sherry Reser. The $129 billion California State Teachers' Retirement System, Sacramento, boosted the portfolio run by FIS Group by $125 million to $300 million. The fund also added $100 million to a portfolio run by Russell Investment Group, bringing it to $300 million. Funding came from cash.
CalSTRS' third emerging manager mandate, run by Northern Trust Global Advisors, was not changed despite recent personnel turnover, Ms. Reser said. Northern Trust ran $270 million in the portfolio as of March 31. Ms. Reser said fund officials increase communications with managers following staff departures.