California Teachers Fund Earns 12% After Record Loss Last Year - BusinessWeek

California Teachers Fund Earns 12% After Record Loss Last Year - BusinessWeek

Wednesday July 21, 2010

Bloomberg

California Teachers Fund Earns 12% After Record Loss Last Year

July 19, 2010, 2:26 PM EDT

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July 19 (Bloomberg) -- The California State Teachers’ Retirement System, the second-biggest U.S. public pension fund, earned 12.3 percent in the year ended June 30, led by gains in stocks and bonds that offset losses in real estate.

Calstrs, as the Sacramento-based fund is known, ended the fiscal year with $129.8 billion under management, up from $118.8 billion a year earlier. Stock holdings earned 14.5 percent and its bonds rose 12.3 percent, the fund reported today. Investments in private equity funds rose 21.7 percent, while real estate fell 12.4 percent.

“We’re not out of the woods yet,” Calstrs Chief Investment Officer Christopher J. Ailman said in a statement. “The