New York State Teachers allots up to $1 billion for new equity strategy
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Fund-raising firm aims to set pace at Sunday s Stratford 10K
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New York State Teachers tabulates 9.6% return in fiscal second quarter
Pension fund also approves renewals for investment managers, consultants
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The governing board of the New York State Teachers Retirement System, Albany, reported that the pension system had an unaudited return on investment, net of fees, of 9.6% for the three months ended Dec. 31, 2020, the second quarter of the pension system s fiscal year. The unaudited return was 5.6% for the three months ended Dec. 31, 2019.
The announcement was made Thursday at the board s quarterly meeting held virtually. Unaudited total assets, net of fees, were $137.9 billion for the three months ended March 31, up 2% from the previous three months and up 25.9% from the quarter ended March 31, 2020, which reflected the greatest impact of the coronavirus pandemic.
New York State Teachers initiates search for CMBS manager
New York State Teachers initiates search for CMBS manager
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The New York State Teachers Retirement System, Albany, is conducting a request for information to identify one or more qualified firms to manage a commercial mortgage-backed securities separate account, a spokeswoman for the $134.8 billion pension fund confirmed. This RFI is to canvass the market for CMBS managers, Heidi Brennan, a pension spokeswoman, said in an email. New managers may or may not be added.
Incumbent CMBS managers are BlackRock, Prima Capital Advisors and Raith Capital Partners, she said.
There is no target allocation for CMBS, but the current portfolio was valued at about $1.5 billion as of February, she said. CMBS managers operate on one-year annual contracts.