1 / 12

California State Teachers’ Retirement System

California State Teachers’ Retirement System. April 25, 2006. Overview of CalSTRS. Largest teachers pension fund in the U.S. $145 billion in assets under management Over 776,000 California teachers and benefit recipients. Current Allocation. Target Allocation. Overview of CalSTRS.

kareem
Download Presentation

California State Teachers’ Retirement System

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. California State Teachers’ Retirement System April 25, 2006

  2. Overview of CalSTRS • Largest teachers pension fund in the U.S. • $145 billion in assets under management • Over 776,000 California teachers and benefit recipients

  3. Current Allocation Target Allocation Overview of CalSTRS

  4. Asset Allocation @ March 31, 2006 Market Value Domestic Equity Portfolio: $ 62 Billion Active Management $16 Billion Developing Manager Program $ 1 Billion(6% of the active management component) Passive Management $ 45 Billion Active Mgmt is 26% of the U.S. Portfolio, of which 6% allocated to the Developing Manager Program Passive Mgmt is 74% of the U.S. Portfolio

  5. Program Definition: • Firms with <$2 Billion AUM ProgramObjective: • Construct a complement of developing managers that, in aggregate, represent the components of the Russell 3000 Performance Objective: • Russell 3000 + 150 bps

  6. June 2003 – Issued Request for Proposals December 2003 – Selected 3 Fund of Funds Managers to implement the allocation • Delegated Manager Selection Process to Fund of Funds Managers

  7. FUNDING HISTORY Funded the Program with a $600 Million Allocation ManagerFunding DateInitial Allocation FIS April 2004 $150 Million Frank Russell June 2004 $200 Million Northern Trust July 2004 $250 Million August 2005: Increased funding by $225 Million TOTAL PROGRAM COMMITMENT: $825 MILLION

  8. Market Value of the Program as of February 28, 2006: $996 Million Market Value ManagerFebruary 28, 2006 Northern Trust $310 Million FIS $339 Million Frank Russell $347 Million

  9. 3 Fund of Funds Managers 1 minority woman-owned firm 32 Underlying Developing Manager Firms 19 Woman and Minority Firms PORTFOLIO COMPOSITION

  10. Add Portfolio Performance Chart

  11. NEXT STEP: • ISSUE AN RFP TO ADD TO THE FUND OF FUNDS MANAGER ROSTER

  12. California State Teachers’ Retirement System Thank you!

More Related