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CalSTRS reports annual progress on diversity in management of investments; plans events and data improvements
Summary
CalSTRS’ investments branch presented its annual Diversity in the Management of Investments (DIMMI) update: governance and programs are in place, the fund is expanding recruitment and manager engagement, and staff will pursue better data collection and partnerships with external organizations.
CalSTRS staff presented an annual update on the investments branch’s Diversity in the Management of Investments (DIMMI) program. The presentation covered governance, staff recruitment and development, portfolio allocations to emerging and diverse managers, and external engagement.
Staff described the DIMMI governance structure: a Diversity Steering Committee chaired by senior management and a cross-branch diversity team that meets quarterly. Programs cited included summer internships, mentorship and events (BeyondTalk, Catalyst, and a partnership with CalPERS on an upcoming Catalyst event), plus ongoing engagement with portfolio companies on board diversity and human-capital management.
Ayesha Mastagni and colleagues emphasized the goal of building diverse internal investment talent (staff recruitment and retention) because roughly half the fund is managed internally. Staff also highlighted the annual DIMMI report (An AB 890 disclosure) and said they are planning work on better data collection, talent management and partnership enhancement. Committee members asked staff to consider formal recognition of “good-actor” companies that maintain strong DEI programs and to track measurable outcomes (for example, human-capital metrics) over time. Staff agreed to pursue richer metrics and to continue external partnerships.
