Los Angeles City Employees’ Retirement System board voted yesterday to terminate Paradigm Asset Management, which ran a $21.2 million large-cap active value fund for the $7 billion system. Instead, the board decided to divert the money into an existing large-cap value index fund managed by Barclays Global Investors, increasing the assets in that fund to $450 million from $161 million. The board also voted to invest $15 million in Richland Ventures III, a venture capital fund.
Los Angeles City Employees' Retirement System board voted yesterday to...
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