Los Angeles Fire & Police Pension System is conducting an asset allocation study of the $13.2 billion system, Tom Lopez, chief investment officer, wrote in an e-mail response inquiries.
General consultant R.V. Kuhns will be conducting the asset allocation study.
Mr. Lopez wrote that the study will put on hold a review of the system’s equity portfolio the board had discussed Sept. 2; that review was prompted because of “several managers’ performance and fee related issues,” according to a Sept. 16 memo to the board by Michael A. Perez, general manager. However, the board was uncomfortable deciding manager retention and other issues before first deciding on the fund’s overall asset allocation, the memo stated.