BOARD OF ADMINISTRATION

OF THE

WATER AND POWER EMPLOYEES’ RETIREMENT PLAN

 

REGULAR MEETING AGENDA

 

JULY 25, 2018 – 9:00 A.M.

 

ROOM 1555-H, 111 NORTH HOPE STREET, LOS ANGELES, CA 90012

 


A meeting of the Retirement Board will be held on July 25, 2018, convening at 9:00 a.m. or soon thereafter if quorum is present.

 

As a covered entity under Title II of the Americans with Disabilities Act, the City of Los Angeles does not discriminate on the basis of disability and, upon request, will provide reasonable accommodation to ensure equal access to its programs, services, and activities.  To ensure availability, such request should be made 72 hours in advance by contacting the Retirement Office at (213) 367-1712 during business hours.

 


At the beginning of the meeting, the Board will provide an opportunity for members of the public to address it on items of interest that are within the subject matter jurisdiction of the Board. Thereafter, the Board will consider and take action on the Regular Agenda items. Members of the public may also request to speak on any agenda item.  The meeting is recorded.

 


PUBLIC COMMENTS

 

CONSENT(Approval of routine, non-controversial items; action taken on entire consent agenda and treated as separate vote on each)

Reso

 

 

 

1.

Approval of the Minutes for June 13, 2018, Regular Meeting

 

19-02

19-03

2.

a)  Termination of Monthly Allowance from the June 2018 Retirement Roll

b)  Termination of Monthly Allowance from the July 2018 Retirement Roll

 

RECEIVED AND FILED     (Items of Interest to the Board on which no action is taken)

 

 

3.

Report of Payment Authorizations

a)  May 2018

b)  June 2018

 

 

4.

Notice of Deaths

a)  May 2018

b)  June 2018

 

 

5.

Investment Reports for May  2018

a)  Summary of Investment Returns as of May 31, 2018

b)  Market Value of Investments by Fund and Month as of May 31, 2018

c)  Market Value of the Retirement, Death, and Disability Funds and Retiree Health Care Fund as of May 31, 2018

 

 

6.

Summary of Contract Expirations July 2018

 

 

7.

Report on Status of Insurance for June 2018

 

8.

Articles of Interest

a) FundFire Article – SEC Fines Oaktree Over Pay-to-Play Violations, Dated July 10, 2018

b)  Pensions&Investments Article – Oaktree Capital Management Settles with SEC Over Pay-to-Play Charges, Dated July 10, 2018

 

 

9.

Report on Private Equity Investment in Crestview Partners IV, L.P.

 

 

10.

Report on Dimensional Fund Advisors – On-Site Due Diligence Visit

 

 

11.

Report on Heitman Real Estate Securities, LLC – On-Site Due Diligence Visit

 

REGULAR    (Items for discussion and action by the Board)

Reso

 

 

12.

CLOSED SESSION - PURSUANT TO SUBDIVISIONS (a) AND (d)(1) OF GOVERNMENT CODE SECTION 54956.9 to Confer with, or Receive Advice from, Legal Counsel Regarding the Consolidated Class Action Against LendingClub Corporation Pending in the United States District Court, Northern District of California

 

19-04

13.

CLOSED SESSION – PURSUANT TO GOVERNMENT CODE SECTION 54956.81 to Consider the Purchase of One Particular, Specific Pension Fund Investment; and Possible Action

 

19-05

14.

CLOSED SESSION – PURSUANT TO GOVERNMENT CODE SECTION 54956.81 to Consider the Purchase of One Particular, Specific Pension Fund Investment; and Possible Action

 

19-06

15.

Discussion of Nominations and Appointment of Officers of the Board of Administration of the Water and Power Employees’ Retirement Plan; and Possible Action

 

19-07

16.

Discussion of Authorization of Expenditure for Segal Consulting to Complete Special Assignment Related to the Retirement Board Educational Session; and Possible Action

 

19-08

17.

Discussion of Investment-Focused Recommendations in the Management Audit of the Los Angeles Department of Water and Power Employees’ Retirement Plan; and Possible Action

 

19-09

18.

Discussion of the Global Equity and International Small Cap Equity Investment Guidelines; and Possible Action

 

 

19.

Annual Presentation by Zeno Consulting Group – Trading Cost Analysis Provider

 

 

20.

Presentation by StepStone – 2017 Fourth Quarter Private Equity Performance

 

19-10

21.

Discussion of the Extension of Agreement with James Evans and Associates, Inc.; and Possible Action

 

19-11

22.

Discussion of U.S. Large-Cap Growth Equity Mandate; and Possible Action

 

REPORTS FOR REFERENCE  (Items of Interest to the Board on which no action is taken)

 

 

23.

Investment Reports for April 2018

a)  Summary of Investment Returns as of April 30, 2018

b)  Market Value of Investments by Fund and Month as of April 30, 2018

c) Market Value of the Retirement, Death, and Disability Funds and Retiree Health Care Fund as of April 30, 2018

 

 

24.

RETIREMENT PLAN MANAGER’S COMMENTS

 

 

25.

FUTURE AGENDA ITEMS

 


In compliance with Government Code Section 55957.5, non-exempt writings that are distributed to a majority or all of the Board or applicable Committee of the Board, in advance of their meetings, may be viewed at the offices of the Water and Power Employees’ Retirement Plan (WPERP), located at 111 North Hope Street, Room 357, Los Angeles, California 90012, or at the scheduled meeting. 

 

Posted on July 20, 2018.