California Teachers Fund Gains 13.35%

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. pension fund with $160 billion in assets, said it earned 12.5% on its investments over the same 12-month period. CalSTRS’ result placed it ahead of 91% of government and corporate pension plans with more than $1 billion in assets, as measured by the Trust Universe Comparison Service.