CalSTRS on Monday said it expected to return around 20% on its investments in its fiscal year ended June 30.
The report, posted on the website of the $154.6 billion California State Teachers' Retirement System, West Sacramento, said the returns would be the second or third highest in the retirement system's history.
The system returned 12.7% in the 2009-2010 fiscal year; in the previous fiscal year, the system lost 25% on its investments.
The report notes, however, that in the investment business, good future returns are never guaranteed.
"Stock market history shows, once at the top, there's typically a downslide the next year,“ it said.
CalSTRS spokesman Ricardo Duran was unavailable to provide more details on the preliminary returns number. It is unclear when the final return numbers will be available.
