CalSTRS
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Portfolio Manager, Fixed Income
role at
CalSTRS .
The CalSTRS Investments Branch is seeking an experienced individual to work as a Portfolio Manager (PM) on the Fixed Income team. The Fixed Income division is dedicated to maximizing risk‑adjusted total return within a multi‑asset class portfolio. Fixed Income is managed internally and externally using lower‑risk enhanced, and higher‑risk active mandates that provide value through innovative/active strategies. These strategies incorporate fundamental and systematic factor‑based methods of security selection and asset‑allocation in order to generate returns that exceed benchmarks. In addition, the team manages several strategies and programs that reside in other divisions or serve the total fund including Treasury Inflation Protected Securities (TIPS), Long Duration Treasuries, Cash Management, Reverse Repo execution, and Currency/FX management and execution services.
Under the general direction of the Director of Fixed Income, the Portfolio Manager is responsible for developing and managing the day‑to‑day implementation of the CalSTRS Fixed Income Private Debt (credit) strategies including the general partners fixed income investment managers.
Ideal Candidate Skills
Knowledge of investment principles and practices, investment types and markets
Experience leading or supporting a large portfolio
Experience overseeing external managers
Experience managing a diverse and broad range of staff
Market knowledge across traditional and alternative asset classes
Experience in effectively communicating complex information to a board or similar body, executive leadership, high‑level policy makers, stakeholders, and team members
Ability to communicate effectively, both orally and in writing, with all levels of staff and management
Ability to work collaboratively across multiple asset classes
A high degree of initiative, professionalism, confidentiality, and ability to work well under pressure in a fast‑paced environment
An incumbent who possesses a professional certification in one of the following designations: Chartered Financial Analyst (CFA), Certified Commercial Investment Member (CCIM), Financial Risk Manager (FRM), Certified Investment Management Analyst (CIMA) or Chartered Alternative Investment Analysts (CAIA) may receive a 5% monthly base pay differential. Only one 5% base pay differential is eligible regardless of the number of certifications.
Relocation benefits may be available.
In July 2025, the State of California implemented the Personal Leave Program 2025. This program reduces employees’ monthly base pay in exchange for paid leave credits. This position is subject to PLP 2025 and will have a monthly base pay reduction of 3% in exchange for 5 hours of leave credits for the duration of the program. The salary ranges shown on this job posting do not reflect the reduced amounts.
Seniority level Mid‑Senior level
Employment type Full‑time
Job function Finance, Management, and Consulting
Industries: Financial Services, Investment Management, and Government Administration
Benefits
Medical insurance
Vision insurance
Paid maternity leave
Paid paternity leave
Pension plan
Disability insurance
Referrals increase your chances of interviewing at CalSTRS by 2x.
Base pay range $192,000.00/yr - $288,000.00/yr
This position is eligible for incentive compensation and has a maximum incentive opportunity of 125% of base salary.
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Portfolio Manager, Fixed Income
role at
CalSTRS .
The CalSTRS Investments Branch is seeking an experienced individual to work as a Portfolio Manager (PM) on the Fixed Income team. The Fixed Income division is dedicated to maximizing risk‑adjusted total return within a multi‑asset class portfolio. Fixed Income is managed internally and externally using lower‑risk enhanced, and higher‑risk active mandates that provide value through innovative/active strategies. These strategies incorporate fundamental and systematic factor‑based methods of security selection and asset‑allocation in order to generate returns that exceed benchmarks. In addition, the team manages several strategies and programs that reside in other divisions or serve the total fund including Treasury Inflation Protected Securities (TIPS), Long Duration Treasuries, Cash Management, Reverse Repo execution, and Currency/FX management and execution services.
Under the general direction of the Director of Fixed Income, the Portfolio Manager is responsible for developing and managing the day‑to‑day implementation of the CalSTRS Fixed Income Private Debt (credit) strategies including the general partners fixed income investment managers.
Ideal Candidate Skills
Knowledge of investment principles and practices, investment types and markets
Experience leading or supporting a large portfolio
Experience overseeing external managers
Experience managing a diverse and broad range of staff
Market knowledge across traditional and alternative asset classes
Experience in effectively communicating complex information to a board or similar body, executive leadership, high‑level policy makers, stakeholders, and team members
Ability to communicate effectively, both orally and in writing, with all levels of staff and management
Ability to work collaboratively across multiple asset classes
A high degree of initiative, professionalism, confidentiality, and ability to work well under pressure in a fast‑paced environment
An incumbent who possesses a professional certification in one of the following designations: Chartered Financial Analyst (CFA), Certified Commercial Investment Member (CCIM), Financial Risk Manager (FRM), Certified Investment Management Analyst (CIMA) or Chartered Alternative Investment Analysts (CAIA) may receive a 5% monthly base pay differential. Only one 5% base pay differential is eligible regardless of the number of certifications.
Relocation benefits may be available.
In July 2025, the State of California implemented the Personal Leave Program 2025. This program reduces employees’ monthly base pay in exchange for paid leave credits. This position is subject to PLP 2025 and will have a monthly base pay reduction of 3% in exchange for 5 hours of leave credits for the duration of the program. The salary ranges shown on this job posting do not reflect the reduced amounts.
Seniority level Mid‑Senior level
Employment type Full‑time
Job function Finance, Management, and Consulting
Industries: Financial Services, Investment Management, and Government Administration
Benefits
Medical insurance
Vision insurance
Paid maternity leave
Paid paternity leave
Pension plan
Disability insurance
Referrals increase your chances of interviewing at CalSTRS by 2x.
Base pay range $192,000.00/yr - $288,000.00/yr
This position is eligible for incentive compensation and has a maximum incentive opportunity of 125% of base salary.
#J-18808-Ljbffr