CalSTRS’ investment tab: $145 million

CalSTRS expect to spend more than $145 million in the current fiscal year to manage its $159 billion in assets, according to a board memo to be discussed at its April 4 board meeting. The cost represents “a very low” 9.6 basis points, according to the memo. The California State Teachers’ Retirement System, Sacramento, expects to spend about $131.8 million on external investment management fees, consultants, research custodian fees and corporate governance activities; $9.7 million on investment staff salaries, benefits, bonuses, investment travel and training; and $3.9 million in directed brokerage services. The fund’s fiscal year ends June 30.