CalPERS and CalSTRS hit their all-time highs in total assets — $192.6 billion for CalPERS as of July 25 and $128.9 billion for CalSTRS as of June 30.
CalPERS chalked up a 12.7% return for the one-year period ended June 30; CalSTRS, 11.09%.
Real estate was CalPERS' best-performing asset class, returning 38% — more than double the NCREIF benchmark of 15.5%. Alternative investments returned 22.8%; corporate governance funds, 20.8%; and international equities, 17.3%.
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.