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LACERA CIO says illiquid portfolio as an ‘insurance policy’ is working

Speaking out today on CNBC, Los Angeles County Employees Retirement Association (LACERA) CIO Jonathan Grabel pointed out that the $59 billion pension fund’s illiquid investment portfolio has indeed been helpful in navigating the current spectacular downturn in markets. “Risk-mitigating strategies help us navigate markets such as this,” he told CNBC. He added that this year …

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