BOARD OF ADMINISTRATION

OF THE

WATER AND POWER EMPLOYEES’ RETIREMENT PLAN

 

REGULAR MEETING AGENDA

 

MARCH 13, 2019 – 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 March 13, 2019 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.

 

 


GENERAL PUBLIC COMMENTS ON MATTERS WITHIN THE BOARD’S JURISDICTION

 

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

Reso

 

 

 

 

1.

Approval of the Minutes of February 27, 2019

 

 

REPORTS TO THE BOARD (Items of Interest to the Board on which no action is taken)

 

 

 

2.

Investment Reports for January 2019

a)  Summary of Investment Returns as of January 31, 2019

b)  Market Value of Investments by Fund and Month as of January 31, 2019

c)  Market Value of the Retirement, Death, and Disability Funds and Retiree Health Care Fund as of January 31, 2019

 

 

 

3.

Articles of Interest

a)  Chief Investment Officer Article – Exclusive: Los Angeles Water and Power CIO Explains  Strategy Behind Its ‘Young’ Private Equity Portfolio, Dated March 6, 2019

b)  Institutional Allocator Article – LA Water & Power Preps PE Pursuit, Dated March 6, 2019

 

 

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

 

 

ITEMS FOR BOARD ACTION (Items for discussion and action by the Board)

 

 

Reso

 

 

19-69

4.

Discussion of Training Expenditure for the Investment Management Workshop – Investing and Strategic Decision-Making; and Possible Action

 

19-70

5.

Discussion of Contract Extension for Fidelity Institutional Asset Management International Developed Growth Equity; and Possible Action

 

19-71

6.

Discussion of Contract Extension for BlackRock Institutional Trust Company, N.A., Domestic Large-Cap Core Equity; and Possible Action

 

19-72

7.

Discussion of Real Return Structural Review; and Possible Action

 

 

8

Discussion of Post-Trade Transition Report by Northern Trust Transition Management

 

 

 

 

PRESENTATIONS (Items for discussion on which no action is required by the Board)

 

 

 

9.

Annual Presentation by BlackRock Institutional Trust Co. – Large-Cap Core Manager

 

 

10.

Annual Presentation by MFS Investment Management, Inc. – Large-Cap Value Manager

 

 

11.

Annual Presentation by T. Rowe Price Associates, Inc. – Large-Cap Value Manager

 

 

12.

Presentation by RVK, Inc. – 2018 Fourth Quarter Real Return Portfolio Performance Report

 

 

13.

Presentation by RVK, Inc. – 2018 Fourth Quarter Hedge Fund of Funds Portfolio Performance Report

 

 

14.

Presentation by RVK, Inc. – 2018 Fourth Quarter Portfolio Performance Report

 

RETIREMENT PLAN MANAGER’S COMMENTS

 

 

CONSIDERATION OF FUTURE AGENDA ITEMS

 

 

CLOSED SESSION (Items for discussion and action by the Board)

 

Reso

 

 

19-73

15.

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

 

 


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 March 8, 2019.