LASERS Renews City of London for Emerging Markets Equity

At its investment committee meeting on June 27, the Louisiana State Employees’ Retirement System (LASERS) renewed City of London as a manager of its emerging markets equity portfolio, according to published meeting notes. Investment consultant, NEPC, assisted.

The move came as part of a review of LASERS’ emerging markets equity portfolio with City of London and Westwood Global, who manage the $818.4M portfolio along with LSV Asset Management, according to LASERS’ 2023 investment annual report.

At the meeting, CIO Robert Beale also reported a total plan return in May of 2.8% and 2024 FYTD of 12.4%.

According to the 2023 investment annual report, the emerging markets equity strategy accounted for nearly 12% of LASERS’ $7.06B portfolio as of the close of FY23, returning 8.6% in that time against a benchmark return of 2.2%.

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