LACERS Has Taste For 130/30

May 1 2008 | 11:26am ET

The $11.4 billion Los Angeles City Employees' Retirement System is making its first investments in 130/30 strategies, with commitments to two incumbent long-only managers who also have 130/30 strategies in their portfolios.

LACERS in March heard presentations on 130/30 strategies from large-cap value manager Aronson, Johnson & Ortiz and small-cap core manager Thomson Hortsmann & Bryant. The system then directed its consultant Pension Consulting Alliance to bring back recommendations regarding these managers and their 130/30 strategies.

As a result, LACERS has decided to shifting 10% of assets from AJO’s current $444.1 million mandate and THB’s $370.5 million long-only mandate into their respective 130/30 funds.

LACERS currently has a 7% allocation to alternative investments.

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