Pension fund to consider increasing real estate allocation target from 13% to 15%: California State Teachers’ Retirement System (CalSTRS) has been transforming its real estate portfolio ahead of a vote today on whether to increase its target allocation to the asset class. The $242bn (€215bn) pension fund in the US has been over-allocated to real estate for some time and has made $2.1bn of disposals in the asset class so far this year, according to a board meeting document.