LAFPP Reports a Return of 17.86 Percent for 2013-14
LAFPP REPORTS a RETURN of 17.86 PERCENT FOR 2013-14
Los Angeles Fire and Police Pensions (LAFPP) is reporting a return of 17.86 percent for the fiscal year ending June 30, 2014. LAFPP assets totaled $18.27 billion at the end of the fiscal year.
The gain marks the fourth double-digit return the fund has earned over the last five years and was led by LAFPP’s strong performance in the domestic fixed income and international equity markets, generating returns over their benchmarks.
LAFPP’s 17.86 percent return is well above the Fund’s discount rate of 7.50 percent, which is the long-term return required to meet current and future obligations for members. LAFPP’s 10-year investment return is 7.75 percent, while its 20-year return is 8.71 percent. LAFPP has a long-term investment horizon and uses an asset allocation which encompasses a strategic long-term perspective of the capital markets.
LAFPP is one of the largest fire and police pension funds in the U.S. The retirement system administers retirement and health subsidy benefits for more than 25,000 current and retired public safety employees and their beneficiaries for the City of Los Angeles. More information is available at About LAFPP.