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California State Teachers Retirement System

NEWS
December 14, 1999 | SHARON BERNSTEIN, TIMES STAFF WRITER
Two of California's largest and most influential pension funds are considering dumping the managed care plans that provide their members with health insurance and contracting directly with doctors and hospitals instead. If enacted, such moves by the California State Teachers Retirement System and the California Public Employees' Retirement System, which together represent about 1.5 million people, would change the face of health care in California and perhaps across the nation.
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CALIFORNIA | LOCAL
November 3, 1999 | DOUG SMITH, TIMES EDUCATION WRITER
The powerful Los Angeles teachers union has taken up a fight to end the investment of California teachers' retirement funds in tobacco companies. In the wake of a vote by its house of representatives, United Teachers-Los Angeles will urge the California State Teachers Retirement System to drop 19 tobacco companies from its portfolio of 3,000 American stocks.
BUSINESS
August 20, 1999 | Bloomberg News
The California State Teachers' Retirement System, the third-biggest government pension fund in the U.S., said it earned 13.35% on its investments in the year ended June 30. Sacramento-based CalSTRS said gains on its investments in U.S. and international stocks helped propel it to a total of $99.9 billion in assets by June 30, $11.8 billion above its total in the year-earlier period. By contrast, the California Public Employees' Retirement System, the biggest U.S.
BUSINESS
November 19, 1997 | JUAN HOVEY
Two new venture capital funds with $90 million to invest hope to begin funding businesses in Southern California in the coming months. In addition, the $68-billion California State Teachers' Retirement System decided last spring to increase its venture capital investment by $300 million nationwide, and some of this money will end up in Southern California businesses.
BUSINESS
July 9, 1997 | (Bloomberg News)
The California State Teachers Retirement System has sold all its shares in Maxxam Inc. amid environmentalists' calls for divestiture. The pension fund, the company's 10th-largest institutional shareholder, sold 71,400 shares for about $3.3 million as part of "normal portfolio rebalancing" last month, said James Mosman, chief executive of the state-run fund, which has more than $72 billion in assets. He said the fund sold a total of $160 million in stocks.
BUSINESS
May 13, 1997 | (Bloomberg News)
A Maxxam Inc. shareholder proposal to have the company swap its Headwaters land in exchange for government claims from a failed savings and loan was endorsed by a large pension-fund stockholder. The endorsement came from the California State Teachers' Retirement System, which is the Houston-based timber company's 10th-largest institutional shareholder with 71,400 shares. Its recommendation was reported by the Rose Foundation, an Oakland-based environmental group.
BUSINESS
May 10, 1997 | TOM PETRUNO, TIMES STAFF WRITER
The veteran chief investment officer of the $68-billion California State Teachers' Retirement System fund was replaced on Friday, a victim at least in part of his conservative investment philosophy in a roaring bull market. Thomas Flanigan, 56, who has overseen assets of the teachers' fund for 11 years, lost the position in competition with five other candidates, the CalSTRS board said. His successor will be Patrick Mitchell, 48, the fund's director of bond and stock investments.
BUSINESS
May 9, 1997 | (Bloomberg News)
The $68.5-billion California State Teachers Retirement System plans to boost its stake in global stocks and may start investing in foreign bonds. The third-largest U.S. public pension fund raised its investment target to 38% of assets in U.S. stocks and 25% in foreign shares. It currently has 34% in U.S. shares and 20% overseas. Many large public pension funds are increasing their stakes in equities in a move to boost returns by taking advantage of strong global equity markets.
BUSINESS
March 8, 1997 | JAMES S. GRANELLI, TIMES STAFF WRITER
The California State Teachers Retirement System said Friday that it has selected an Irvine firm to manage a $2.5-billion portfolio that is one of the system's riskier investments. CalSTRS said it will negotiate a final contract with Pathway Capital Management L.P. for services over the next three years, with options for two one-year extensions.
BUSINESS
February 12, 1997 | TOM PETRUNO
The investment officers of California's two big public employee pension funds are taking two very different approaches toward investing their huge asset pools--and the results may cost one of those individuals his job. The $68-billion California State Teachers' Retirement System fund, under Chief Investment Officer Tom Flanigan, has become increasingly wary of the U.S. stock market's heights, and has reduced its stake in U.S. shares to 32.9% of total assets from 41.3% three years ago.
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