The third largest US pension fund, California giant Calstrs, has fired Putnam Investments as money manager. The decision by the California State Teachers’ Retirement System comes after its sister fund, the California Public Employees’ Retirement System, voted last month to terminate its contract with Boston-based Putnam. In pulling $312 million in assets from Putnam, Calstrs said other fund managers could better service the account.
CalSTRS Fires Putnam
The third largest US pension fund, California giant Calstrs, has fired Putnam Investments as money manager. The decision by the California State Teachers' Retirement System comes after its sister fund, the California Public Employees' Retirement System, voted last month to
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