Los Angeles Fire & Police Pensions officials plan in the first quarter of 2015 to interview the nine firms that responded to its October RFP for a derivatives-based enhanced index commodities manager, a board report from Tom Lopez, chief investment officer for the $18 billion pension fund, said.
One percentage point of the pension fund's 5% commodities target is allocated to the strategy. Of the nine firms that responded to the RFP, two firms offered two products. A hiring decision is expected within the next six to nine months.
Separately, the board at its Dec. 18 meeting approved a new three-year contract for BlackRock, which manages $679 million in an MSCI EAFE index fund. BlackRock's contract was set to expire Jan. 31.