California State Teachers Retirement System鈥檚 (CalSTRS) $48.4bn (鈧�44.5bn) real estate portfolio outperformed its custom benchmark, despite recording a -9.8% return in the fiscal year ended 30 June 2024.
The $341.4bn educator-only US pension fund said its real estate portfolio outperformed the NFI-ODCE Value-Weighted Index which posted a -12% net return during the same period.
As of the end of June this year, real estate accounted for 13.9% of CalSTRS鈥檚 overall portfolio, compared with a 15% allocation target for the asset class.
The pension fund said its $19.9bn inflation-sensitive portfolio, which includes around $11.1bn of infrastructure investments, recorded a 6.4% return, outperforming its benchmark鈥檚 5.2% return.
Overall, CalSTRS posted an 8.4% net return on investments for the fiscal year ended 30 June 2024.
A previous version of this article incorrectly stated the pension fund鈥檚 real estate returns in the headline and opening paragraph. The error has been corrected.
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