The Louisiana State Employees’ Retirement System (LASERS) today reported a 16.1 percent return for the fiscal year ending June 30, 2010. This brings the total asset value for LASERS to approximately $7.68 billion.
“Multiple asset classes performed well during the last year.” LASERS Chief Investment Officer Bobby Beale said, “Total equities were positive 15.7 percent, total fixed income including global fixed income was positive 20.7 percent and total alternatives were positive at 12.1percent.” The system oversees its own investments, and has highly credentialed staff to internally manage over 25 percent of its portfolio. LASERS twenty-five year compounded actuarial return of 8.41 percent exceeds the expected return of 8.25 percent.
“LASERS is pleased with the good returns, but also realizes the importance of assessing the market environment, and making any changes necessary.” said LASERS Executive Director Cindy Rougeou. “The importance of a strong in-house investment team and its ability to meet the unique needs of our members cannot be overstated.”