Los Angeles County Employees Retirement Association, Pasadena, Calif., returned a net 25.2% for the fiscal year ended June 30, topping its 23.1% benchmark, the $71.6 billion pension plan reported.
LACERA returned 10.7% for the three years, slightly underperforming its 10.9% benchmark; 10.8% for the five years, above its 10.3% benchmark; and 8.6% for the 10 years ended June 30, just besting its 8.5% benchmark.
The pension plan earned 1.8% for its fiscal year ended June 30, 2020, slightly below its 2% benchmark.
The best-performing asset class for the 2021 fiscal year was the growth asset class with a 42.8% return, missing its 43.6% benchmark, followed by credit at 17.9%, outperforming its 9.4% benchmark. The real assets and inflation hedges asset class returned 15.2%, below its 15.6% benchmark, and the risk reduction and mitigation asset class earned 2.5%, beating its 0.2% benchmark.
As of June 30, the pension plan had 51.6% in growth, 20.6% in risk reduction and mitigation, 16.3% in real assets and inflation hedges, 10.8% in credit and 0.7% in overlay composite.
LACERA has a strategic asset allocation of 53% to growth, 19% to risk reduction and mitigation, 17% to real assets and inflation hedges, 11% credit and zero to overlay composite.
