Indiana State Teachers' Retirement Fund, Indianapolis, approved BGI, Credit Suisse, Goldman Sachs, Morgan Stanley, JPMorgan and SSgA as its transition managers, said Molly E. Deuberry, director of communications and outreach for the $7.9 billion fund.
The fund hadn't had a preapproved group of transition managers, she said. Previously, the fund used Northern Trust, its global custodian, and BGI and SSgA, index managers for the fund, for transitions.
Fund trustees wanted to have an approved group available for transitions, Ms. Deuberry said.
The fund will draw on the six firms, using one or more for “whichever particular strategy is the best fit for our needs at the time,” she added.
The fund has no plans to engage in any transitions at this time, she said.
Staff conducted the search, issuing an RFP in September.
