July 5, 2006

Sacramento, CA – The California State Teachers' Retirement System invites investment management professionals to participate in the second round survey in its comprehensive, five-year long study concerning attitudes to diversity in the management of investments. The anonymous survey consists of 38 brief multiple choice questions and solicits opinions from and about women and minorities in the investment management industry.

This study is part of CalSTRS' continuing efforts to expand the diversity of ideas and people throughout its $143 billion investment portfolio. As part of this initiative, CalSTRS is again co-sponsoring the survey with Leading Edge Investment Advisors, LLC and Anira Advisory Group, LLC, two San Francisco-based sister investment management firms specializing in manager-of-managers portfolios.

"This year's survey delves more deeply into how attitudes about diversity shape careers in the investment industry," said Christopher J. Ailman, CalSTRS chief investment officer. "We want to be able to analyze the effects of diversity on different segments and investment professionals in the industry. Most importantly, we want to understand better how and where diversity can be used to boost investment returns to benefit our members."

"This survey is one of the very few ways in which we can get statistically useful and anonymous candid responses from and about talented minority and emerging managers," said Clayton C. Jue, president and chief investment officer of LEIA. "We are also uncovering key data that could boost participation of minority and women investment professionals across asset classes throughout the industry."

The California State Teachers' Retirement System is the second-largest public pension fund in the United States. It provides retirement, disability and survivor benefits to California's 776,000 public school educators from kindergarten through community college.

Leading Edge Investment Advisors, LLC is an independent manager-of-managers business focused on developing investment solutions that leverage the talents of emerging investment managers. LEIA is dedicated to delivering innovative investment solutions that balance creativity and practical application to produce superior returns and serve clients and pension plan members.