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INVESTMENTS


INVESTMENT POLICY

LACERA'S INVESTMENT PROCESS

The nine-member Board of Investments is responsible for establishing LACERA’s investment policy objectives in accordance with applicable local, state and federal laws. The Board exercises authority and control over the management of the plan by setting policy. LACERA’s Investment staff executes that policy, either internally or through the use of prudent external experts.

The Board oversees and guides the plan subject to the following basic fiduciary responsibilities:

  • To act solely in the interest of, and for the exclusive purpose of providing economic benefits to participants and their beneficiaries.
  • To act with the care, skill, prudence and diligence of a prudent expert in the investment of plan assets.
  • To diversify the investments of the plan so as to minimize the risk of loss and to maximize the rate of return, unless under the circumstances it is clearly prudent not to do so. Diversification is applicable to the deployment of the assets as a whole.

LACERA’s Investment Policy

Placement Agent Disclosure

External Managers must complete and deliver a disclosure form to LACERA prior to LACERA investing any money with that manager.
Placement Agent Disclosure and S.E.C. Compliance Form

2/7/17