The $246 billion California State Teachers’ Retirement System (CalSTRS) announced its investment portfolio gained 3.9% net of fees for the fiscal year ending June 30, thanks to gains of 7.8% in its risk-mitigating strategies portfolio.
The pension’s returns are reflective of the ongoing impact of the global pandemic on financial markets, but CalSTRS CEO Jack Ehnes added that it was the first time for the pension to go into a recession with a plan for full funding in place. Still the net of fee gains are below the system’s goal of achieving . . .
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