CalPERS and CalSTRS have hit their all-time highs in total assets, with combined assets of more than $321 billion.
The California Public Employees' Retirement System, Sacramento, had $192.6 billion in assets as of July 25, according to a CalPERS electronic newsletter. Further details about the fund's investments were not available by press time.
The California State Teachers' Retirement System, Sacramento, reached $128.9 billion as of June 30, spurred by an 11.09% return for the fiscal year ended June 30, resulting in an all-time high of $128.9 billion in total assets, said Sherry Reser, spokeswoman.
CalSTRS' best-performing asset class was alternative investments, returning 24.9%, followed by real estate at 18.4%. Non-U.S. equity, which returned 16.5%, was the only one of CalSTRS' five asset classes to underperform its benchmark, the Morgan Stanley MSCI All Country Free index ex-U.S., which earned 16.79% for the same period, Ms. Reser said. Domestic equity returned 8.3%, and fixed income, 7.14%.
The fund's asset allocation was 43% U.S. stocks, 24.5% fixed income, 21.1% non-U.S. stocks, 5.6% real estate, 4.8 % alternative investments and 1% cash.