Apple: California teachers pension fund confirms letter

(CercleFinance.com) - The California State Teachers' Retirement System confirmed late on Monday that it has sent Apple a letter asking the company to make sure that young consumers use their iPhones and iPads in an "optimal" way.


Specifically, CalSTRS and Jana Partners, another investment manager, ask Apple to form a committee of experts to research and study children's device usage.

In addition, the California teachers pension fund wants Apple to offer parents more tools by enhancing mobile device software to limit screen time or set up parental monitoring.

"We believe that by doing so, Apple will enhance long-term value for all shareholders, by creating more choices and options for their customers today and helping to protect the next generation of leaders, innovators, and customers tomorrow," CalSTRS said.

The fund said Apple is the largest holding in its domestic equities portfolio worth close to 1.9 billion dollars.

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