CalSTRS Names Director of Global Equity
Trish Taniguchi will oversee $73 billion portfolio.
WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) today announced the appointment of Trish Taniguchi as director of the $73.2 billion global equities portfolio.
Taniguchi will direct a staff of 11 who manage the global equities portfolio, which accounts for more than 55 percent of the $132.6 billion CalSTRS investment portfolio as of February 28, 2010. The announcement is effective immediately.
The global equities staff directly manages one-third of the portfolio and oversees 58 external managers. Global equities staff oversees and manages a developing manager program, and the CalSTRS sustainable investment and directed brokerage programs. They also evaluate the investment options for the Pension2 program, which offers defined contribution options for CalSTRS members.
“Trish has been at the helm of this asset class, either as an interim or as co-director, since March 2008 and has done a wonderful job in consolidating our equities portfolio from distinct U.S. and non-U.S. asset classes to its current global equities mix,” said CalSTRS Chief Investment Officer Christopher J. Ailman. “Trish’s ability to effectively oversee this large and complex portfolio through the most turbulent market since the Great Depression speaks to the excellence of her qualities as a leader.”
The move from U.S./non-U.S. equities to global equities came about in February 2009 after the financial crisis revealed that that both domestic and non-U.S. stocks behaved similarly and that segregating them into separate asset classes was not an effective approach to diversification.
Taniguchi joined CalSTRS Global Equities in 2001, from a staff position at CalSTRS Private Equity, where she worked six years. She has 17 years of investment management experience and holds a Bachelor of Science degree in business administration. Taniguchi replaces Elleen Okada who retired in March 2008 after 11 years as director.
The California State Teachers’ Retirement System is the second largest public pension fund in the United States. It administers retirement, disability and survivor benefits for California’s 848,000 public school educators and their families from the state’s 1,400 school districts, county offices of education and community college districts.