Chief Investment Officer
Los Angeles Fire and Police Pensions is dedicated to administering the defined benefit retirement plan for all sworn (Fire, Police and certain Port Police and Airport Police) employees of the City of Los Angeles. In
addition to their core role of managing the pension plan benefits, their services include pre-retirement and retirement counseling, and retiree health and dental subsidy program administration. LAFPP has been
serving eligible members and their beneficiaries since June 7, 1899. They continue their efforts to provide professional and prompt service to approximately 13,200 active members and 13,300 retirees and beneficiaries. As of September 30, 2020, the investment portfolio held a market value of $25.315 billion across the following asset classes:
Asset Class Market Value
Domestic Large Cap Equity $6,616.3 26.13%
Domestic Small Cap Equity 1,698.9 6.72%
International Developed Markets 3,534.9 13.96%
International Emerging Markets 1,026.1 4.05%
Domestic Bonds 4,236.1 16.74%
High Yield Bonds 653.4 2.58%
Unconstrained Fixed Income 502 1.98%
Real Estate 1,965.3 7.76%
Private Equity 2,780.7 10.98%
Commodities 941.4 3.73%
Cash-House Accounts3 1,360.8 5.37%
Total $25,315.9 100%
BOARD OF COMMISSIONERS
The Board of Fire and Police Pension Commissioners administers the LAFPP System in accordance with the City Charter, the City Administrative Code, and the State Constitution. The
Board consists of nine commissioners – five appointed by the Mayor and confirmed by the City Council, and four elected by members.
Los Angeles, California, is the second most populous city in the United States with an estimated population of over 3.9 million residents. Los Angeles is the principal city in the metropolitan region stretching from
Ventura to the north, San Clemente to the south and San Bernardino to the east. Los Angeles and its surrounding metropolitan region have continued to experience growth in population and in economic prosperity. The City’s 470 square miles contain 11.5% of the geographic area and 40% of the population of the County of Los Angeles.
The greater Los Angeles area is the most populous urbanized center in the United States. It is among the most diverse urban areas of the world, where numerous cultures, religions and lifestyles come together in a rich, interwoven tapestry.
Los Angeles is one of the largest business, financial and trade centers in the world, stimulated by the international ties of its immigrants. The transportation systems, regional port complexes and international airports rank among the busiest in the world in total trade and passenger volume. Los Angeles serves as a principal international global center as it is fueled by trade with the Pacific Rim and Latin America. Los Angeles is home to the film, television and recording industries, as well as a center for important cultural facilities.
Los Angeles offers a premiere lifestyle including world-class architecture, multiple recreation, and entertainment venues, as well as pristine coastline and 75 miles of beaches. Angelenos are as
varied as any population group in the world. Statistics reveal that no single ethnic group constitutes a majority in Los Angeles, which makes it a true “World Community.” Residents trace ancestries to
more than 140 nationalities.
The Los Angeles Unified School District administers public instruction for grades K-12, adult, and occupational schools in the city. Major colleges and universities located within the greater Los Angeles area include the University of California, Los Angeles; University of Southern California; California Institute of Technology; California State University, Los Angeles; California State University, Northridge; Occidental College; Pepperdine University; and Loyola Marymount University. There are also nine community colleges located within the Los Angeles Community College District.
The greater Los Angeles area continues to attract millions of tourists each year. Major attractions, among others, include the Los Angeles Coliseum, Griffith Observatory, Disneyland, Universal Studios and Citywalk, Knotts Berry Farm, La Brea Tar Pits, J. Paul Getty Museum, Venice Beach, Los Angeles Marina District, and Los Angeles Zoo and Botanical Gardens. Extensive renovations of downtown Los Angeles continue to revitalize and invigorate the City’s historic core. Los Angeles
is a beacon of opportunity for immigrants, an economic engine for the nation, and an example of a progressive/dynamic urban center.