CalSTRS hired Schroder Investment Management and J.P. Morgan Asset Management to run a combined $1.25 billion in emerging markets equity, spokesman Ricardo Duran said.
Schroders will receive a contract for a core emerging markets equity strategy, while J.P. Morgan's contract will be for an emerging markets global opportunities value strategy.
Mr. Duran said it has not been yet decided how the $1.25 billion allocation will be split between the two firms.
In addition, the $183.8 billion California State Teachers' Retirement System, West Sacramento, has named more than 40 backup managers to be placed in a pool if the two firms that CalSTRS plans to engage would be unable to fill their duties or if they were terminated.
The list is on pension fund's website.
