The CalSTRS board yesterday deferred a decision regarding changes to its $31.6 billion fixed-income portfolio for "further discussion and possible action" at a Dec. 7 investment committee meeting, said Sherry Reser, spokeswoman. Staff of the $129 billion California State Teachers' Retirement System, Sacramento, recommended shifting the fixed-income target to 70% internally managed core and 30% externally managed opportunistic over the next three years, from 95% and 5%, respectively, according to a memo to the board.
The possible shift could result in new managers being hired, according to Ms. Reser, who noted it's too early to discuss when any RFPs would be issued. With any kind of policy change, the board "takes a conservative view and takes time in making decisions," Ms. Reser said.
