Los Angeles Water & Power Employees' Retirement Plan placed active emerging markets equity manager Los Angeles Capital Management and Equity Research on watch, said Jeremy Wolfson, chief investment officer, in an email.
The $13.7 billion retirement plan's board on Wednesday approved placing the manager on watch for organizational changes in the firm. Further information on those changes was not immediately available.
Los Angeles Capital Management runs about $326 million in active emerging markets equities for the pension fund. The other emerging markets equity manager Wellington Management runs $347 million, and the actual allocation to the asset class as of Nov. 30 was 4.9%.