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 trustees are reviewing the strategic asset allocation of the pension fund.
Officials recently approved a decreased annualized return assumption of 7% from 7.25% previously.
Right now, Grabel is not predicting any dramatic shifts in the . . .
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