CalSTRS returned 17.4% for the year ended June 30, its second straight fiscal year of positive returns. International equity was the top performer, returning 30.7% for the $116 billion California State Teachers' Retirement System, Sacramento. Private equity was close behind at 29.6%. In other areas, U.S. equities returned 21%; real estate, 13.2%; and fixed income, 0.7%.
"Being overweight in U.S. and non-U.S. equity from the start of the year really paid off. We bought into the market in the summer and fall of 2002, and we held those positions as the market was bottoming," Christopher J. Ailman, CIO, said in a statement.
