The California State Teachers’ Retirement System (CalSTRS) is planning to commit $2 billion to $2.5 billion to its credit enhancement program, Pensions & Investments reports. The program underwrites credit instruments on short-term, variable-rate municipal bonds. The retirement system committed $2 billion to the program last year. Separately, the fund’s investment consultant, Pension Consulting Alliance, is likely to recommend for additional internally managed investment strategies to its investment committee.
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