California State Teachers’ Retirement System (CalSTRS) has appointed currency specialist and alternative investment manager, Millennium Global Investments, Pensions & Investments reports. Millennium Global will manage $500 million in currency overlay.

The system will allocate about 15-20% of non-U.S. public equity target allocation to its three external currency overlay managers. The mandate will increase Millennium Global’s total assets under management to about $12 billion, adds Reuters.

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