HONG KONG : The California State Teachers' Retirement System , the second-largest U.S. pension fund, said on Tuesday it had shortlisted 19 fund managers for its China stock portfolio.
It said actual allocation sizes to the selected managers would be decided on factors including CalSTRS' needs and the overall attractiveness of the Chinese market. The pension fund had roughly $3.7 billion worth of investments in Chinese equities around that time, but did not have a dedicated China manager. CalSTRS had global assets worth around $309.3 billion at the end of May.
The MSCI China index dropped 23 per cent and 24 per cent, respectively, in 2021 and 2022, and is almost flat year-to-date, largely underperforming global peers.
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