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CalSTRS Seeks to Manage More Assets Internally

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CalSTRS

CalSTRS CIO Chris Ailman

Taking the playbook from sapient Canadian public pensions, the California State Teachers’ Retirement System (CalSTRS) is attempting to migrate more assets toward internal management. In a press release, CalSTRS is planning to increase in-house assets from 45% to 60%.

See CalSTRS External Managers

Besides saving on investment fees and costs, CalSTRS desires to have more control over corporate governance issues. By owning the shares or underlying securities directly, CalSTRS can push forward with activist-based strategies. Obviously, publicly-traded securities are the first assets to go toward in-house management. CalSTRS also shifted some executive investment positions around to enable the organization to properly handle more internal management of assets. Among other promotions, Debra Smith was named CalSTRS chief operating investment officer.

“These three appointments, coupled with our 2010 creation of a Deputy Chief Investment Officer, complete a new organizational structure that allows us to bring more assets in house,” said CalSTRS Chief Investment Officer Christopher J. Ailman in a press release. “This structure matches what you find in most large investment money managers. This also fits our plans to internally manage more of our assets—currently at 45 percent in-house—to a projected 60 percent internally managed.”

Mauritius Aims to Sell Citizenship and Passports to Bolster National Wealth Fund

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The island country of Mauritius plans to offer foreigners a chance to obtain country citizenship in exchange for a non-refundable contribution of US$ 1 million to the national sovereign wealth fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CapitaLand Aims to be a Real Estate Funding Machine

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CapitaLand Investment Management, a real estate investment management arm of Singapore-based CapitaLand, hired Caleb Shen as managing director for fund management. CapitaLand is keen on growing its real estate fund management business. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Treasurer Perrottet Reveals the NSW Generations Fund

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New South Wales wants its own Future Fund.

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