Sacramento, CA – The California State Teachers’ Retirement System has joined the Enhanced Analytics Initiative as an Associate Member, becoming the first major U.S. public fund to do so. EAI is an international collaboration of asset owners and asset managers aimed at encouraging investment research that considers the impact of extra-financial issues on long-term company performance.
Sacramento, CA – During a ceremony at the Sixth Wall Street Summit in New York City, the New America Alliance awarded Christopher J. Ailman, CalSTRS’ chief investment officer, the NAA Distinguished Service Award for Advancing Latinos in American Business. Mr. Ailman was recognized for his innovative approach in uncovering untapped talent in the investment arena and encouraging other institutional investors to seek out and hire emerging managers.
Sacramento, CA – At its meeting today, the Teachers’ Retirement Board approved sweeping changes to its Board Governance policy.The new rules restrict political contributions and gifts, require disclosure of placement agent fees and require disclosure of certain types of communications involving board members and/or CalSTRS staff.Upon taking office, board members must now sign a pledge confirming their independence and underst
Sacramento, CA – Jack Ehnes, Chief Executive Officer of the California State Teachers’ Retirement System and Fred Buenrostro, Chief Executive Officer of the California Public Employees’ Retirement System issued the following joint statement today about the announcement made by SEC Chairman Christopher Cox on proxy access:
“We commend Chairman Cox for his decision to go forward with a deliberative rulemaking process on the use of the proxy to nominate corporate directors. We are confident it will result in a thoughtful rule permitting reasonable, fair shareowner access.
Sacramento, CA – The California State Teachers’ Retirement System today launched a search for one or more investment management firms with experience in transition management to act as fiduciaries in transactions that may include portfolio liquidation, asset allocation changes and portfolio rebalancing. The final filing date for proposals is November 14 with selections expected in the spring of 2007.
Sacramento, CA – At its meeting today, California’s Teachers’ Retirement Board took a major step in closing the California State Teachers’ Retirement System’s long-term funding gap of $20 billion. The board approved guiding principles CalSTRS staff will use to draft legislation. Any change to the system must be signed into law by the Legislature and Governor.
Sacramento, CA – The Teachers’ Retirement Board voted today to make significant changes to the $144 billion portfolio, moving to a higher risk, higher return asset mix. The decision comes at the conclusion of a six-month asset and liability allocation study that weighed both the costs to administer the system and the funded status of the system over a 30-year horizon.
Sacramento, CA – The California State Teachers’ Retirement System posted a 13.2 percent return on investments, adding $13.5 billion to the fund ending the year with $142.7 billion in assets as of June 30, 2006. Real estate, alternative investments and international stocks were the engines of growth that led to the fourth straight year of positive returns for the system.
Sacramento, CA – The Teachers’ Retirement Board voted to support legislation, if amended, which addresses concerns about investing in companies doing business in Sudan. The board supports the bill, Assembly Bill 2941 (Koretz D-West Hollywood), if it will indemnify CalSTRS officials and managers for divestment decisions made while applying CalSTRS’ new geopolitical risk investment policy in the Sudan.
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 questionsa
Sacramento, CA – The California State Teachers’ Retirement System today launched a search for one or more investment management firms with experience in corporate governance and a successful track record in relational investing to complement and add to its current relational portfolio.The final filing date for proposals is July 21 with selections expected in the fall of 2006.
Sacramento, CA – The California State Teachers’ Retirement Board voted at their meeting today to form a task force with school health care stakeholders to address the health care issues facing employers and their employees, including retired employees.Employers have been experiencing increasing health care costs which have resulted in higher premiums paid by both the employers and employees, higher co-pays and reduced coverag
Sacramento, CA – The California State Teachers’ Retirement System today launched a search for up to four investment management firms with expertise in managing environmentally focused sustainable investment strategies. The final filing date for proposals is June 21 with selections expected in the fall of 2006.
Sacramento, CA – The California State Teachers’ Retirement System today launched a search for up to five Executive Search firms specializing in recruiting high quality investment management professionals. The final filing date for proposals is May 31 with selections expected in the fall of 2006.
New York, NY – The California State Teachers’ Retirement System (CalSTRS) and the California Public Employees’ Retirement System (CalPERS) today announced a joint effort to build a first-of-its-kind database of emerging managers and financial service providers.
Sacramento, CA – The California State Teachers’ Retirement System announced today plans to invest in West Sacramento as part of the Sacramento Riverfront Master Plan by constructing a 14-story headquarters building. Groundbreaking is planned for fall 2006 with move in expected in spring of 2009.
Sacramento, CA – The Teachers’ Retirement Board will sponsor State Senate Bill 1207 (Alarcon) and officially support the provisions in Congressional Bill H.R. 4291 (Frank). Senate Bill 1207 bolsters corporate governance at the board level by strengthening shareholders voting rights in publicly-traded corporations based in California. H.R.4291 would require company disclosure of executive compensation plans in its annual reports and proxy statements.This bill would require a separate vote for general equity compensation plans and so-called Change-in-control severance agreements.
Sacramento, CA – The Teachers’ Retirement Board reaffirmed its opposition to Assembly Constitutional Amendment 23, authored by Assembly member Keith Richman (R-Northridge), after reviewing independent analyses at its meeting today. The proposed legislation would close the current CalSTRS defined benefit plan to public school educators hired after July 1, 2007. Newly hired employees would have a new defined benefit plan and an additional 401(k)-style account for their and their employers’ voluntary contributions.
Sacramento, CA – The California State Teachers’ Retirement System today issued a request for proposal to establish a pool of managers for both the High Yield bond and Core Plus mandates. This request for proposal introduces a new mandate for Core Plus managers that will actively manage approximately $4.5 to $6 billion. The High Yield bond manager allocation will remain at its current level of between $1.5 billion and $2.5 billion. The final filing date for proposals is April 12 with selections expected in early summer.
Sacramento, CA – The California State Teachers’ Retirement System, second largest public pension fund in the nation, posted a 10.2 percent return for 2005, achieving $137.1 billion in assets on December 31, 2005, an $11 billion increase over 2004.
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