CalSTRS News Archive

CalSTRS news archive


Past news articles, reports and other published materials on CalSTRS programs and investments.

Article Responsible Investor, Commentary by Kirsty JenkinsonOctober 14, 2020

CalSTRS runs more than $246bn for our beneficiaries. Here’s how we’re managing climate risk

Our team at the California State Teachers’ Retirement System (CalSTRS) sees climate change as one of the most significant risks facing investors today. Established in 1913 – the same year Earth’s ozone layer was discovered – we have nearly a million members and more than $246bn in assets under management, and we’ve made a promise to provide a secure retirement for our members many decades into the future. Our view is that adjusting and adapting to a low-carbon economy is the best way to fulfill that commitment.

Article Risk.Net, NewsOctober 9, 2020

CalSTRS CIO: new derivatives needed to hedge ESG risks

More advanced derivatives are needed to hedge environmental, social and governance risks, so investors can move away from “binary” buy-or-sell choices, says the chief investment officer of the second-largest US pension fund, the California State Teachers’ Retirement System.

Christopher Ailman, CIO of CalSTRS, says the fund has struggled to find “good tools” to hedge ESG risks in its $263 billion portfolio.

Article Bloomberg TV, The CloseSeptember 25, 2020

CalSTRS CIO Ailman sees ESG as investment opportunity

Christopher Ailman, chief investment officer of the California State Teachers’ Retirement System (CalSTRS), says investors have to take action and be prepared for changes in the energy industry. He speaks during an interview with Bloomberg’s Romaine Bostick and Caroline Hyde on “Bloomberg Markets: The Close.”

Note: Total run time 00:03:25.

Article Top 1000 Funds, EventsSeptember 24, 2020

China ESG risk: the next unknown

One of the most important, upcoming challenges at CalSTRS is how the fund should evaluate Chinese investments from a human capital and environmental standpoint, said Chris Ailman, chief investment officer at the giant pension fund.

Article CNBC, Worldwide ExchangeSeptember 9, 2020

CalSTRS CIO: The market is all about momentum right now

Christopher Ailman, CIO of public pension fund CalSTRS, discusses what’s been driving the volatility in the markets, and how he’s positioning the fund’s massive portfolio.

Note: Total run time 00:07:24.

Article Investments & Pensions Europe, Real AssetsSeptember 4, 2020

CalSTRS puts $400m into homebuilding, real estate debt JVs

California State Teachers’ Retirement System (CalSTRS) has approved $200m (€169m) commitment each into real estate debt and US homebuilding joint ventures with Ares Management Corporation and GTIS Partners respectively.

Article Bloomberg TV, The CloseAugust 21, 2020

CalSTRS CIO Ailman sees ‘choppy’ recovery outside of tech

Christopher Ailman, chief investment officer of the California State Teachers’ Retirement System (CalSTRS), says it’s going to take a long time for the U.S. economy to recover from the Covid-19 pandemic. He speaks during an interview with Bloomberg’s Romaine Bostick, Caroline Hyde and Taylor Riggs on “Bloomberg Markets: The Close.”

Note: Total run time 00:02:00.

Article Pensions & Investments, ESG InvestingAugust 10, 2020

Industry sounds off against DOL proposal on ESG

A Department of Labor proposal that would likely curb environmental, social and governance investments in ERISA plans has drawn sharp criticism from the retirement community.

Article The Wall Street Journal, MarketsAugust 4, 2020

Beleaguered public pension funds make record gains in second quarter

Public pension funds set a 22-year performance record in the second quarter, recovering some but not all of their losses from the first quarter.

Double-digit stock gains pushed pension returns to a median 11.1% for the second quarter, according to Wilshire Trust Universe Comparison Service.

Even with the rebound, median annual returns for the public pensions whose fiscal years ended June 30 were 3.2%, far short of the funds’ long-term investment-return target of around 7%.

Article IREI, NewsJuly 22, 2020

CalSTRS moves on long-term allocation plan

The California State Teachers’ Retirement System (CalSTRS) has bumped up its target allocation to the real estate asset class from 13 percent to 14 percent as part of a shift to the new long-term asset allocation targets approved in January.

Article Pensions & Investments, Pension FundsJuly 17, 2020

New CalSTRS plan aims to reduce costs, bring more management in-house

California State Teachers’ Retirement System, West Sacramento, on Wednesday adopted fiscal year 2021 business plans for the entire $242.8 billion pension fund and each asset class.

CIO Christopher J. Ailman told the investment committee that the business plans “are actually a critical element” that keeps the team heading in the same direction.

Article Institutional InvestorJuly 13, 2020

CalSTRS’ master plan to rein in investment costs

The California State Teachers’ Retirement System unveiled a plan to cut investment costs over the next ten years, and one key will be managing more investments in-house. 

CalSTRS published the plan online ahead of its upcoming board meeting Wednesday. The $226.8 billion pension fund’s investment committee still has to approve and accept the proposal before it could go into effect.

Article Sacramento Business Journal, Government & RegulationsJuly 19, 2020

CalSTRS joins CalPERS at studying remote work even after pandemic goes away

The California State Teachers’ Retirement System may consider continuing remote working after the pandemic is over, even as it is building a $300 million office building in West Sacramento.

The teachers’ pension fund may follow in the strategy of the Sacramento-based California Public Employees’ Retirement System, whose CEO said this week that she anticipates half of its employees will continue to work remotely after the pandemic goes away as a way to trim costs.

Article PODCAST: Bloomberg, P&L With Paul Sweeney and Lisa AbramowiczJune 3, 2020

Yes, Trump can send in military but probably won’t

Chris Ailman, Chief Investment Officer at CalSTRS Investments, discusses the “ridiculous” amount of Fed stimulus to backstop markets.

Note: Total run time 00:29:08.

Article Institutional Investor, PortfolioMay 8, 2020

CalSTRS is skeptical about the market rebound

Amid the coronavirus pandemic and subsequent market volatility, the California State Teachers’ Retirement System’s investment returns are “pretty flat” for the year, according to chief investment officer Chris Ailman.  

However, the retirement system remains cautious about the recent market upturn, Ailman said at CalSTRS’s board meeting on Thursday.

Article CIO Magazine, Corporate MovesMay 19, 2020

CalSTRS searches for Director of Investment Services

The California State Teachers’ Retirement System (CalSTRS) is searching for a director of investment services to replace Chief Operating Investment Officer Debra Smith, who retired this month. 

The senior position on the investments team was created after Smith, who worked at the fund for 24 years, announced her retirement in February. She is expected to stay on for a short time as a retired annuitant to help the pension fund through the downturn.