CalSTRS Consistent Support of AAAIM Garners the 2016 Founder’s Award
Assoc. of Asian American Investment Managers bestows its highest honor on CalSTRS
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System received the Association of Asian American Investment Managers 2016 Founder’s Award today. The award is a one-time honor being given in celebration of AAAIM’s 10th Anniversary.
CalSTRS was one of the first major U.S. pension funds to support AAAIM at its launch–demonstrating its commitment to finding highly-qualified, diverse fund managers. The Founder’s Award honors CalSTRS steadfast support over the last 10 years.
“With more than 25,000 K-12 public school teachers in California who identify as Asian American or Pacific Islander (AAPI) and our members’ overwhelming commitment to inclusion, it seems only natural that CalSTRS would sustain its relationship with an organization dedicated to the advancement of AAPI leadership,” stated CalSTRS Teachers’ Retirement Board Member Harry Keiley.
Ten years ago, the Association of Asian American Investment Managers was founded to address the gap in women and Asian American Pacific Islander representation and leadership in the investment industry. AAAIM has grown steadily and gained increasing national recognition with limited partners, government officials and fund managers, reaching over 1,600 investment professionals.
“CalSTRS’ continuous support of AAAIM is a win-win. CalSTRS is proud of its diversity among its investment staff. Our current investment team of 127 includes 35 Asian American and Pacific Islanders in investment officer, portfolio manager, and investment director positions,” said CalSTRS Chief Investment Officer Christopher J. Ailman.
“AAPI investment managers and institutional investors have forged a valuable partnership that promotes diverse experience and thought to the investment management field and research shows that diversity leads to better decision making,” added Mr. Ailman. “This diversity supports our mission of securing the financial future of California’s educators.”
“We truly value the support and strong working relationship we’ve had with the CalSTRS board, senior management team and staff. By supporting our efforts, CalSTRS has broadened its reach in the financial community reaching diverse fund managers and finding new investment opportunities which can beneficial to CalSTRS annuitants. We look forward to deepening our ties in the future,” stated Founding Board Member and Co-Chair of AAAIM Ginger Lew.
The California State Teachers’ Retirement System, with a portfolio valued at $187.4 billion as of April 30, 2016, is the largest educator-only pension fund in the world. CalSTRS administers a hybrid retirement system, consisting of traditional defined benefit, cash balance and voluntary defined contribution plans. CalSTRS also provides disability and survivor benefits. CalSTRS serves California’s 896,000 public school educators and their families from the state’s 1,700 school districts, county offices of education and community college districts.