LACERS Fund Ends Fiscal Year Up 18.6%

The LACERS' investment portfolio beat its policy benchmark and ranked in the top 6% of pension funds greater than $1 billion. During a regular meeting of the LACERS Board of Administration, Chief Investment Officer Dan Gallagher presented the Investment Performance Review for the period ending June 30, 2004. Mr. Gallagher reported that the total investment portfolio return was 18.6% for the year, outperforming the policy benchmark by 2.2%. The investment portfolio was valued at $7.7 billion, an increase of $1 billion from one year earlier.

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