The $287 billion California State Teachers’ Retirement System (CalSTRS) has released its latest sustainability report for 2019-2020.
According to the report, the investment committee decreased the target allocation for global equity and increased the targets for real estate, inflation-sensitive and risk-mitigating strategies.
CalSTRS said the new targets improve diversification, offer better drawdown protection and take advantage of private asset risk premiums, as well as the evolution of the CalSTRS collaborative model.
“In our more than 100 years as a system, CalSTRS has never experienced a year like 2020,” said Jack Ehnes, CEO of CalSTRS. “The COVID-19 pandemic created a global paradigm shift, rapidly changing the lives of our members and employees.”
He added, “This past year emphasized the importance of anticipating and adapting to unexpected events while continuing our business and serving our members.”
In its latest report, CalS
