Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]
LACERA has a long-term investment horizon, and utilizes an asset allocation which encompasses a strategic, long-term perspective of capital markets. It is generally recognized that a strategic long-term asset allocation plan implemented in a consistent and disciplined manner will be the major determinant of the Plan's investment performance. The policy statement is designed to allow for sufficient flexibility in the management oversight process to take advantage of investment opportunities as they arise while setting forth reasonable parameters to ensure prudence and care in the execution of the investment program. All transactions undertaken are for the sole economic benefit of LACERA's members and beneficiaries and for the exclusive purpose of providing retirement benefits. LACERA's Investment Policy includes references to publicly traded investments in tobacco and companies conducting business in Iran and Sudan.