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Pension fund CalSTRS weighs shift to safety

Pension fund CalSTRS weighs shift to safety

The California State Teachers' Retirement System, the nation's second-largest public pension system, is considering a new strategy that would shift up to 12% of its $191-billion portfolio into safer investments, such as long-term Treasury bonds. The strategy is one of the most aggressive actions by a major public pension fund to lower its risk of losses, especially from stock markets. The potential moves, discussed in a meeting of the fund's investment committee Wednesday, are part of a proposal broached by the fund's staff and consultants for creating a complex, highly managed portfolio to mitigate risk. Under the plan, CalSTRS would move up to $20 billion in...

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