LACERSLos Angeles City Employees Retirement System
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Choi said LACERS does try to invest locally, but she and the administrators are required to make investments that maximize the return and minimize the risks.
LL: Talking about the board of LACERS, how did it become integrated into a diverse board?
RA: I think the history of the LACERS board over the last maybe 10 years, maybe even going back 15 years, has had some diversity to its makeup, and that's primarily because four out of the seven members are appointed by the Mayor, and previous mayors have made an attempt to include diversity in their appointments throughout the city of Los Angeles for their commissioners.
He spent many years working hard with CalPERS and LACERS, and his work also took him to the [Robert] Toigo Foundation, where he also worked hard to help Latinos to achieve success through education.
In a ceremony held at the prestigious California Club in Los Angeles that was beautifully executed by Renae Griffin and her staff at RG Management, Aguallo celebrated a lifetime of achievements and contributions while enjoying dinner and a few words from guest speakers, which included Sue Toigo, Michael Rodriguez and Eric Holloman from the Toigo Foundation and Shelly Smith from LACERS.
Aguallo, who managed LACERS $12 billion in trust assets for 5 years, sees an extraordinary opportunity in taking the helm of the Cardinal Americas Fund.
This day-long event is a must attend for investment professionals they want to hear first-hand the experiences and successes of in-state investing," said Robert Aguallo, General Manager of the LACERS.
LACERS manages the retirement benefits for more than 40,000 members and directs investments of more than $9 billion in trust assets.