Asset Owner Directory

California State Teachers Retirement System (CalSTRS)

The California State Teachers’ Retirement System was established by law in 1913 to provide retirement benefits to California’s public-school educators from prekindergarten through community college. Today, CalSTRS is the largest educator-only pension fund in the world, and the second largest pension fund in the U.S.

Country

United States

AUM ($B)

$309

Performance

27.2

Chief Executive

Cassandra Lichnock

Chief Investment Officer

Chris Ailman

Chair

Harry M. Keiley

Asset allocation
The key goal of the asset allocation process is to develop an asset allocation policy that maximizes the likelihood that an investment portfolio’s assets will, over the planning horizon, fund plan benefits.

49.7% Public Equity

12.3% Real estate

10.4% Fixed Income

8.6% Risk mitigating strategies

12.0% Private Equity

3.7% Inflation sensitive

0.5% Innovative strategies

2.8% Strategic overlay and cash

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CalSTRS has been a leading light in ESG integration in the US but its board has been slow to adopt a net zero pledge, with internal debate centred around the most motivating factors to achieve net zero. Now it’s made the pledge it will spend the next 12 months mapping the path to achieve net zero. Amanda White spoke to head of sustainability, Kirsty Jenkinson.