SACRAMENTO -- The California State Teachers’ Retirement System, the second-biggest public pension fund in the nation, reported a return on investments of 13.5% for the just-ended calendar year.
The $158-billion fund, known as CalSTRS, said it missed an overall target of 15.4% in asset growth. But it posted strong results of 16% for U.S. stocks, 17.2% for international equities, 14.6% for private equity, 6.1% for bonds and 13.5% for real estate.
CalSTRS' returns were in line with last month's report of 13.3% growth during 2012 at its larger sibling, the California Public Employees' Retirement System. CalPERS' investments are worth about $251 billion.
Both funds are struggling to recoup severe losses from the 2007-09 recession and face billions of dollars in unfunded retirement benefit liabilities despite the recent uptick in portfolio values.