WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System is celebrating the appointment of its Chief Operating Investment Officer, Debra Smith, to the Public Company Accounting Oversight Board’s Standing Advisory Group. Ms. Smith will represent the investors’ perspective and voice in the advisory group. Her three-year term runs through the end of 2019.
WEST SACRAMENTO, Calif. – Consistent with its commitment to ensuring a financially sound retirement system, the California State Teachers’ Retirement Board today voted to adopt a new set of actuarial assumptions that reflect members’ increasing life expectancies and current economic trends. Today’s decisions were based on the multi-year CalSTRS Experience Analysis, commonly referred to as the experience study, spanning July 1, 2010, through June 30, 2015.
Investors and retirees alike will have to take note of their fixed income portfolios, as the country anticipates higher inflation and interest rates under a Trump administration, CalSTRS Chief Investment Officer Christopher Ailman told CNBC.
Appearing on CNBC’s “Squawk on the Street,” Ailman said that the 10-year and three-year U.S. Treasurys have been in a channel, or trading in a specific price range, for over 30 years — a trend that inflation could seriously disrupt.
Video interview with Chris Ailman runs 00:04:12 in duration.
That’s the riddle confronting investors in Pershing Square Holdings Ltd., the closed-end fund run by the prominent activist investor Bill Ackman.
In a letter to investors this month, Mr. Ackman disclosed that through the end of November, the fund had declined 13.5 percent this year after accounting for fees. (Pershing Square Holdings shouldn’t be confused with Pershing Square L.P., Mr. Ackman’s hedge fund, although the two vehicles have the same investment strategy.)
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