CalSTRS News Archive
CalSTRS News Archive
Past news articles, reports and other published materials on CalSTRS programs and investments.
Embracing the FUTURE
As CalSTRS begins the new expansion to their flagship building, the organization’s core values became the primary driver for every aspect of its design and use. West Sacramento will now be home to a global leader, setting cutting-edge standards in new fields you’ve probably never even heard of.
NOTE: CalSTRS Headquarters expansion story begins on page 14. The magazine is an outlet of the West Sacramento Chamber of Commerce.
With 6.8% Return, CalSTRS Narrowly Misses Target
Despite a pendulum market and soaring volatility metrics in late 2018 and spring 2019, the California State Teachers’ Retirement System (CalSTRS) pulled close to its target 7% annual return, clocking in a 6.8% net return at the end of the 12-month period ending June 30.
The nation’s second-largest public pension plan also recorded its highest-ever fund value at $236.9 billion. Previous years recorded valuations of $223.8 billion (2018), $208.7 billion (2017), and $188.7 billion (2016). The pension is approximately 64% funded, and is on a quest to achieve 100% by 2046.
Facebook CalSTRS Court Clash
Facebook CalSTRS court clash seeks to reform governance practices. The California Teachers’ Retirement (CalSTRS) Board recently announced it will make a motion to be added as a plaintiff to a pending derivative case against Facebook’s leadership, including CEO/Chairman Mark Zuckerberg in line with the fund’s Corporate Governance Program and Portfolio Policy.
CalSTRS and Illinois Treasury Officials Win Prestigious Fellowships
June Kim, global equity head of the California State Teachers’ Retirement System (CalSTRS), and Rodrigo Garcia,deputy state treasurer and chief investment officer at the Illinois State Treasury, were picked for the Aspen Institute’s Finance Leaders Fellowships.
This two-year program allows them and 20 other professionals to sharpen their financial leadership skills.
CalSTRS Hires Manager for Gun Safety Campaign With Big Investors
The California State Teachers’ Retirement System hired a coordinator to shepherd its effort with other big U.S. investors to engage gun manufacturers and sellers to make firearms safer and expand the coalition.
Michael Weston started May 13 as public engagement manager. Weston, 48, came from the California Department of Social Services, where he spent 13 years, most recently as deputy director of public affairs and outreach programs. Previously he worked in television news.
CalSTRS Stresses the ‘Importance of Acting Quickly’ to Maintain Funding Progress
In its first five-year report since adopting a funding plan that’s expected to divert its portfolio from the threat of insolvency, the California State Teachers’ Retirement System (CalSTRS) outlined pre-emptive measures that could help the system remain on course.
California’s School Pension Funding Plan is Working
As the world’s largest educator-only pension fund, the California State Teachers’ Retirement System, or CalSTRS, embodies a century-long pledge to uphold the state’s promise of a secure retirement to teachers.
CalSTRS’ dedication to act as fiduciaries on behalf of California’s teachers requires that we correct the record to assure our members, stakeholders and the public that the CalSTRS Funding Plan is working and to argue strenuously for the defined-benefit pension as the best choice for career educators.
CalSTRS Tackles Opioid Crisis
The California State Teachers’ Retirement System (CalSTRS) is taking a role in engaging corporate boards and management of opioid manufacturers, distributors, and pharmacy retail chains it owns in its $115.5 billion global equity portfolio, shows a new pension system report.
The report, which details the activities of the pension plan’s sustainable investment and stewardship strategies team, notes that CalSTRS will be in discussions with 10 companies in the 2019 proxy season as part of a coalition with other institutional investors called the “Investors for Opioid Accountability.”
CalSTRS CIO: Challenges Ahead for Uber, Lyft
In a Worldwide Exchange exclusive, CalSTRS Chief Investment Officer Christopher Ailman says companies like Uber and Lyft are facing questions from investors for good reason. Ailman also shares his investment outlook and discusses the state of U.S. public pensions.
NOTE: Video segment is 00:06:58 in duration.
Why diversity is important at CalSTRS
On International Women’s Day www.top1000funds.com spoke to CalSTRS CIO, Chris Ailman about diversity and inclusion.
The $214 billion fund for California teachers has been a leader on D&I in the investment industry, demonstrated through gender parity in its investment team and the publishing of an annual report on diversity for the past 10 years.
CalSTRS CIO Chris Ailman on breaking up big tech
Chris Ailman, CalSTRS CIO, joins “Squawk Alley” to discuss the recent calls to break up some of the biggest tech companies, and the decision for many companies to take up a dual-class structure.
NOTE: Video segment is 00:09:23 in duration.
Lyft wants the public’s money, but not their input
Lyft to public shareholders: Give us your money, then shut up.
That’s essentially what founders Logan Green and John Zimmer are telling investors who buy stock in the company’s initial public offering, expected next week.
After the offering, Green and Zimmer together will own just under 5 percent of the company’s stock but control 49 percent of the company’s votes, according to data in the company’s prospectus.
What delaying a big rate increase cost CalSTRS
CalSTRS has been the great exception among California public pension systems, different from the others in two important ways. The state helps pay some of its pension costs, and the board lacked the power to set employer rates, needing legislation instead.
Texas and California Pensions Team Up With Buyout Firms for More Deals
Big U.S. pensions are pushing deeper into private equity, seeking exclusive deals alongside buyout firms and at sweeter terms.
Texas and California teachers are ramping up their allocations to co-investments, with more staff and new offices dedicated to buyouts. And Calpers, the largest U.S. pension, discussed this week whether to take a bolder step and do deals on its own.
A Rarity on Wall Street: A Female- and Minority-Led Activist Hedge Fund
The upper ranks of hedge funds are almost exclusively white and male. Impactive Capital LP, a new activist fund being launched by two industry veterans, will be one of the exceptions.
Its co-founders and managing partners are Christian Asmar, who is Hispanic, and Lauren Taylor Wolfe. Both spent roughly a decade at activist hedge fund Blue Harbour Group LP before leaving to strike out on their own.
California pension trustees call for disclosures of #MeToo costs
A group of trustees from some of America’s biggest public pension funds are calling on companies to detail costs related to sexual misconduct and any measures they’re taking to address the problem.
CalSTRS Board Approves $300 Million Campus Expansion
The board of the California State Teachers’ Retirement System (CalSTRS) has approved plans to add a second office tower alongside it 17-story headquarters building in West Sacramento, part of a $300 million campus expansion aimed at attracting new investment staff and other workers.
CalSTRS votes to oppose statewide ban on public funds’ investments in private prisons
CalSTRS’ board voted Thursday to oppose a state bill that would require CalSTRS and CalPERS to divest investments in private prison companies by July 1, 2020.
The bill also would bar the $214.9 billion California State Teachers’ Retirement System, West Sacramento, and the $348.7 billion California Public Employees Retirement System, Sacramento, from making additional or new investments or renewing existing investments in a private prison company.