Board of NYSTRS Votes to Allocated up to $1 Billion for Passive US Equity Strategy
Posted on 09/25/2021
The Board of Directors at the New York State Teachers Retirement System voted to allocate up to US$ 1 billion for a passive equity strategy that is benchmarked to the S&P MidCap 400 index. The mandate will be managed internally. The amount was voted as an initial allocation. The money to fund the new internal portfolio is coming from the rebalancing of portfolios as necessary. The board viewed the move as a better way of managing its exposures across its portfolio relative to their policy benchmark. The policy benchmark is the S&P 1500 index.