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California teachers’ pension fund takes stock of coronavirus impact

The effects of the coronavirus on one of the largest US public pension systems has been limited by the structure of its private-equity investments

One of the biggest public pension funds in the US has begun tallying the costs — and in some cases, gains — from the coronavirus outbreak sweeping the world.

California State Teachers’ Retirement System chief investment officer Christopher Ailman on Wednesday said the coronavirus caused the 12-month return from its $252bn of assets under management to drop by nearly half.

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