HISTORY OF LASERS INVESTMENTS

Our most remarkable growth in the history of LASERS is in the area of investments. Our retirement fund balance was $1.1 million in 1947 and today it stands in excess of $14 billion.

LASERS is a long-term investor managed by its Board of Trustees and a team of dedicated investment professionals. Investment income is typically the main source of revenue for benefits paid to our members and their beneficiaries. LASERS team takes seriously its role in providing retirement security for our members.

This is achieved by maintaining an appropriate asset allocation, which consists of broadly diversified assets and minimizing exposure to risk. The investment approach is structured to preserve and enhance principal over the long-term. While investments are diversified to minimize the risk of significant losses, short-term fluctuations are expected and do not cause the Plan to veer off course.

Scroll down to view a timeline and growth over the years, our asset allocation history, and more.

  • 1947

    First Investment

    First investment approved – $200k in U.S. Treasury Bonds, Series G & H.

  • 1955

    First Custodian

    National Bank of Commerce in New Orleans selected as the first custodian.

  • 1966

    Certificates of Deposit & Corporate Bonds

    First investment in certificates of deposit ($100m) and corporate bonds ($3m par value of AT&T).

  • 1968

    Equities

    First investment in equities of $1m. Stocks included AT&T, GE, GM, Eastman Kodak, Union Carbide, and Standard Oil.

  • 1970

    High Yield Bonds

    Invested in high yield bonds.

  • 1974

    First Consultant

    Boston Company of Louisville, KY hired as first consultant.

  • 1976

    Policy Adopted

    First formal Investment Policy adopted.

  • 1982

    Money Managers

    Assets reached $1 Billion.

    First money managers hired.

  • 1986

    In-House Investments

    In-house structured investment program approved.

  • 1988

    Asset Allocation Adopted

    Asset allocation adopted: 60% debt, 35% equity, 5% real estate

  • 1990

    Assumption Rate

    Investment assumption rate changed to 8.25%. First International Equity managers hired.

  • 1993

    NEPC, LLC

    NEPC, LLC, hired as Investment Consultant and remains today.

  • 1995

    First Workshop

    First Investment Workshop held for the Board of Trustees.

  • 1999

    Internal Management

    Internally managed program began with S&P 500 Index Fund.

  • 2001

    Chief Investment Officer

    Bobby Beale became LASERS Chief Investment Officer.

  • 2002

    Investment Report

    LASERS first Annual Investment Report was published in 2002.

  • 2005

    New Custodian Bank

    BNY Mellon hired as Custodian Bank and remains today.

  • 2013

    Asset Growth

    LASERS assets exceed $10 Billion.

  • 2014

    Assistant Chief Investment Officers

    Darren Fournerat and Laney Sanders became Co-Assistant CIOs.

  • 2017

    CFA / CAIA Designations

    Majority of Investment staff hold both the Chartered Financial Analyst (CFA) and Chartered Alternative Investment Analyst (CAIA) designations.

  • 2020

    Assets Exceed $12 Billion

    NASDAQ 100 Index added to internally-managed program.

    LASERS assets exceed $12 Billion.

  • 2021

    Highest Investment Return

    LASERS reported a 35.6% investment return for the 12-month period that ended June 30, 2021, the highest return in the history of the System.

    Total market value of assets stand in excess of $14.7 billion.

Asset Growth

as of June 30 Fiscal Year-End

1946 $1.1 Million
1968

$220 Million
1992 $2.88 Billion
2002

$5.56 Billion
2008 $8.68 Billion
2010 $7.68 Billion
2019 $11.55 Billion
2020  $12.3 Billion
2021 $14.7 Billion

Learn More

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View Asset Allocation History View Complete History View Current Investments