92: CalSTRS: How the $300+ Billion Pension Fund is Allocating in 2023 - With Christopher Ailman, CIO

Money Maze Podcast

Business, Investing, Management, News, Business News

4.8 • 216 Ratings

🗓️ 13 April 2023

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this miniseries we are interviewing a group of the largest institutional investors (the ‘super allocators’), to understand how these immense pools of capital think about the assets they invest in, shifting asset allocations, passive versus active, public versus private, and steering through turbulent waters.

This first conversation is with CalSTRS, the $300+ billion California State Teachers’ Retirement System. It is the largest educator-only pension fund in the world and the second largest pension fund in the United States.

In this episode, the fund’s CIO Christopher Ailman discusses its evolution and the key considerations undertaken during his tenure. He makes the case for predominantly passive equity allocations, the approach to fixed income and benchmark considerations.

He also covers infrastructure and its key role (given their long term horizons), PE allocation, and why VC does not fit their size and style.

Sign up to our newsletter for more in-depth insights | Follow us on LinkedIn

The Money Maze Podcast is kindly sponsored by Schroders, Bremont Watches, LiveTrade and Mintus.

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to the Money Maze podcast. I'm Simon Brewer and Will Campion and I have created
0:13.6	this show to explore and unravel some of the mysteries surrounding the investment business.
0:19.0	We hope through direct and insightful interviews with
0:21.9	masters of the real-life money maze, we're going to learn about different approaches to
0:26.3	allocating capital, making investment and business decisions, and navigating the pitfalls
0:31.8	that lie in the paths to prosperity. Whether you're a current or aspiring investor,
0:37.0	entrepreneur, professional or a student exploring career options, we hope you gain some helpful insights and enjoy the shows.
0:44.8	You can keep up to date by visiting Moneymayspodcast.com and please sign up to our newsletter to ensure you won't miss a release.
0:52.4	If you enjoy the show, please subscribe and we'd love you to tell a friend or colleague about release. If you enjoy this show, please subscribe,
0:54.6	and we'd love you to tell a friend or colleague about it.
0:57.3	Thank you for listening.
1:01.1	We're delighted to have Schroeder's as a sponsor and corporate partner.
1:05.6	Schroeder is a global investment manager
1:07.6	whose purpose is to provide excellent investment performance through active
1:11.9	decision-making. For more than two centuries, Schroeder's has evolved their understanding of
1:16.4	markets, offering investment solutions across fixed income, equities, multi-asset, as well as private
1:22.5	markets through Schroeder's capital. Schroeder's actively invests in companies with
1:27.1	responsible and durable business models.
1:29.3	They're also a leading specialist in impact investing for clients who want to maximize
1:33.7	positive change. Capital is at risk with investing.
1:38.1	Vermont is also a sponsor of the Money Maze podcast.
1:41.7	Bromont is a British company based in Henley that was established 20 years ago by two young
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Money Maze Podcast, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Money Maze Podcast and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.