At its December 23, 2014 meeting, the LACERS Board of Administration received a presentation by CEM Benchmarking, Inc. of investment benchmarking results for the period ending December 31, 2013. LACERS investment results were benchmarked against 18 of our peers, selected based on size of assets under management.
Some highlights from the report include:
- LACERS 5-year net total return was 12.5% - above the U.S. Public median and our peer median of 12.1%.
- LACERS 5-year net value added was 0.6% - above the U.S. Public median and our peer median of 0.2%. This means that the structure of our investment program added more value than the structure of our peer’s investment programs.
- LACERS investment cost of 50.5 basis points was below our benchmark cost of 55.1 basis points. This means that LACERS was able to implement its investment program at a lower cost than our peer group would have been able to with the same asset allocations.
To see the report in full, click here