Los Angeles City Employees’ Retirement System renewed the contracts of three active international equity managers, all to Sept. 30, 2019, minutes from the June 28 board meeting show.
The board renewed the contracts of Lazard Asset Management, for a $444 million active, non-U.S. developed markets equities core portfolio; MFS Institutional Advisors, for $441 million in active, non-U.S. developed markets growth equities; and Barrow, Hanley, Mewhinney & Strauss for $406 million in active, non-U.S. developed markets value equities.
In other action, LACERS received responses from seven firms in its search for a general investment consultant, the minutes show.Incumbent Wilshire Associates’ contract is set to expire Dec. 31. Wilshire rebid.
The other respondents are Aon Hewitt Investment Consulting, Meketa Investment Group, NEPC, Pension Consulting Alliance, RVK and Verus Advisory. An analysis of all seven RFPs will be conducted, and results will be brought to the board at a future meeting, the meeting minutes show. The timetable could not be learned.
Rod June, chief investment officer at the $13.7 billion pension fund, could not be reached for further details.