LACERA Issues RFP For Futures Strategies

Dec 13 2006 | 3:51pm ET

The Los Angeles County Employees Retirement Association, a $36.7 billion public fund, last month issued a request for proposals for collateralized commodity futures strategies.  Interested firms should be registered with the Securities and Exchange Commission and, as of Sept. 30, must have a minimum of $300 million in assets under management in the proposed product.

LACERA currently allocates 55% of its assets to domestic and international public equities, 6% to private equity, 29% to domestic fixed income and 10% to real estate.  The fund’s board of investments recently approved an allocation of up to 3% in collateralized commodity futures, and it is anticipated that this 3% target will be achieved over a period of approximately three years with the initial investment totaling 1% of assets ($370 million). Prospective managers will be benchmarked to the Dow Jones-AIG Commodity Index. The deadline for responses is noon Pacific time on Dec. 22.


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.