CalSTRS pares down U.S. equity exposure in market’s record run

April 26, 2017 By Daniel Bases and Robin Respaut NEW YORK (Reuters) – Record high U.S. stock prices are providing the California State Teachers’ Retirement System with profit-taking opportunities as it cuts exposure to U.S. equities and moves money off shore, the plan’s chief investment officer told Reuters on Wednesday. Christopher Ailman, the chief investment officer of CalSTRS, as the system is known, said he did not see the U.S. economy as growing much beyond a 1-2 percent range, although he hopes it can average 3 percent in the years…

Read More