New York State Teachers' Retirement System, Albany, renewed contracts with six money managers for about $2.6 billion, said John Cardillo, a spokesman for the $104.3 billion pension fund.
Each of the renewals is for one year, and each renewal takes effect after the expiration of the firms' current respective contracts, Mr. Cardillo wrote in an e-mail. The renewals were approved April 24 at the quarterly meeting of the pension fund's governing board.
The board renewed the contracts of:
- Wellington Management Co. to run $376.6 million in a global aggregate fixed-income allocation, effective June 20.
- Adelante Capital Management to manage $374.2 million in real estate investment trusts and real estate operating companies securities, effective July 1.
- Cohen & Steers Capital Management to run $611.2 million using a total-return allocation by actively investing in REITs and REOCs, effective July 1.
- Cohen & Steers Capital Management to manage $244.3 million in an income-oriented allocation by actively investing in REITs and REOCs, effective July 1.
- RREEF America to run a $420 million portfolio by actively investing in REITs and REOCs, for one year, effective July 1.
- LSV Asset Management to manage $580.6 million as an active ACWI ex-U.S. international equity manager, effective July 25.
Separately, Mr. Cardillo wrote that the pension fund posted a 5.92% return on investments for the quarter ended Dec. 31. Audited figures for the quarter ended March 31 are not available.