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CalSTRS awards Millennium Global a USD 500m currency overlay mandate

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Global currency overlay and currency alpha manager, Millennium Global, has been boosted by a new US public sector mandate in the currency overlay space.

CalSTRS (the California State Teachers’ Retirement System), the largest U.S. teachers’ retirement fund and second largest US public pension fund, has appointed Millennium Global Investments Ltd to manage a USD 500 million specialist currency program from December 2010.

This is a new relationship for the firm and was secured following a competitive tender. It brings Millennium Global’s total AuM to over c. USD12bn.

Millennium Global’s CEO, Mark Astley (pictured), says: “We are delighted to be working with CalSTRS as they seek to manage their currency exposure and increase their returns from an active currency overlay strategy. This mandate confirms our position as a leader in the specialist currency overlay space.”

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