Report to Board of Administration

Report to Board of Administration Agenda of: FEBRUARY 11, 2014 From: Thomas Moutes, General Manager ITEM: II-A-3 SUBJECT: ROBERT F. KENNEDY CENTER FOR JUSTICE AND HUMAN RIGHTS RFK COMPASS WEST COAST 2014 CONFERENCE, MARCH 6-7, 2014; IN HALF MOON BAY, CA AND POSSIBLE BOARD ACTION Recommendation: That the Board authorize Commissioner Greenwood to attend the Robert F. Kennedy Center for Justice and Human Rights RFK Compass West Coast 2014 Conference on March 6-7, 2014 in Half Moon Bay, CA; and authorize the reimbursement of reasonable expenses up to $1,235 in connection with participation. Discussion: Commissioner Greenwood expressed interest in attending the RFK Compass West Coast 2014 Conference hosted by the Robert F. Kennedy Center for Justice and Human Rights. Pursuant to the Board Education and Travel Policy, Board approval is necessary for this travel request because this Conference was not pre-approved with the adoption of the Approved List of Educational Seminars for Fiscal Year 2013-14. The topics to be discussed include the integration of climate change risk and return opportunities into investment portfolios, a fiduciary panel discussion regarding alpha, opportunities in hedge fund shareholder activism, the dilemma of outsourcing portfolio management, finding investment returns from Environmental, Social, and Governance (ESG) opportunities, guides to effective community investing, and taking action to achieve positive change. Strategic Plan Impact Statement: As stipulated in the Board Education and Travel Policy, the sound management of the assets and liabilities of a trust fund imposes a continuing need for all Board Members to attend professional and educational conferences, seminars, and other educational events that will better prepare them to perform their fiduciary duties. Attendance of educational conferences conforms to the Board Governance Goal to: Uphold good governance practices which affirm transparency, accountability, and fiduciary duty. This report was prepared by Armando Bencomo, Commission Executive Assistant, Executive Office. TM:AB Board Report 1 February 11, 2014

Attachments: 1) Proposed Resolution 2) Estimate of Reimbursable Expenses 3) Conference Agenda 4) Evaluation Form Board Report 2 February 11, 2014

TRAVEL AUTHORITY ROBERT F. KENNEDY CENTER FOR JUSTICE AND HUMAN RIGHTS RFK COMPASS WEST COAST 2014 CONFERENCE MARCH 6-7, 2014 HALF MOON BAY, CA PROPOSED RESOLUTION ATTACHMENT 1 WHEREAS, Board approval is required for all travel requests not included in the Approved List of Educational Seminars; WHEREAS, the RFK Compass West Coast 2014 Conference hosted by the Robert F. Kennedy Center for Justice and Human Rights is not included in the Approved List of Educational Seminars authorized by the Board Education and Travel Policy for Fiscal Year 2013-14, and therefore requires individual approval; WHEREAS, the sound management of the assets and liabilities of a trust fund imposes a continuing need for all Board Members to attend professional and educational conferences, seminars, and other educational events that will better prepare them to perform their fiduciary duties; BE IT RESOLVED, that Commissioner Elizabeth L. Greenwood is hereby authorized to attend the Robert F. Kennedy Center for Justice and Human Rights RFK Compass West Coast 2014 Conference on March 6-7, 2014 in Half Moon Bay, CA; BE IT FURTHER RESOLVED, that the reimbursement of up to $1,235 is hereby authorized for reasonable expenses in connection with participation. February 11, 2014

ATTACHMENT 2 DATE: February 11, 2014 CITY OF LOS ANGELES Intra-Departmental Correspondence TO: FROM: SUBJECT: Fiscal Management Section City Employees' Retirement System Armando Bencomo, Commission Executive Assistant II Board of Administration ESTIMATE OF REIMBURSABLE EXPENSES Name of Attendee Title Event Organization ELIZABETH L. GREENWOOD, Commissioner LACERS Board of Administration Robert F. Kennedy Center for Justice & Human Rights RFK Compass West Coast 2014 Conference Date(s) of Event March 6-7, 2014* Location of Event ESTIMATED EXPENSES: TL14 1600031 Half Moon Bay, CA Registration Fee (Complimentary): $0 Conference Hotel Lodging Expenses: $325 per night (Discounted Rate of $265 + 12% taxes, $25 resort fee per night)* $650 Lowest Regular Fare + $14 TravelStore Fee* (Based on Reasonable Flight Schedules) $161 Transportation Between Airport and Hotel: (Based on Heavy Traffic Taxi Fare Estimate) $184 Meal/Incidental Allowances: March 5 th : Up to $60 (Day of Travel)* March 6 th : Up to $45 (2 Meals Provided) March 7 th : Up to $45 (2 Meals Provided) $150 Miscellaneous: ($30 per day) x 3 days* $90 TOTAL ESTIMATE: $1,235 *Commissioner Greenwood may travel on March 5, 2014 to allow sufficient time for registration and conference activities on March 6, 2014. Authorized in accordance with Resolution dated February 11, 2014

ATTACHMENT 3 ADVISORY COMMITTEE JOHN GOLDSTEIN Co-Founder and Managing Director Imprint Capital Advisors ELIZABETH GREENWOOD Commissioner Los Angeles City Employees Retirement System INGRID KIEFER Co-Head of the Business Development and Client Management Canyon Partners WILLIAM LEE Chief Investment Officer and Vice President of Foundation and Pension Investments Kaiser Permanente CARRIE LO Portfolio Manager, Innovation and Risk Group CalSTRS JOHN POWERS President and CEO Stanford Management Company MICHAEL ROSEN Chief Investment Officer Angeles Investment Advisors ANNE SIMPSON Senior Portfolio Manager and Head of Corporate Governance CalPERS

PRELIMINARY AGENDA MICRO TO MACRO: OPPORTUNITITES IN 2014 AND BEYOND THURSDAY, MARCH 6 THE RITZ-CARLTON HALF MOON BAY 12:00 pm Conference registration begins 12:30 1:30 pm Welcome Luncheon 2:00 4:00 pm Opening Workshop: Beyond Divestiture, Integrating Climate Change Risk and Return Opportunities Into Your Investment Portfolio WORKSHOP LEADERS: John Goldstein, Co-Founder and Managing Director, Impact Capital Advisors Jessica Matthews, Managing Director, Mission-Related Investing Group, Cambridge Associates David Schofield, Managing Director, Hall Capital Management Alicia Sieger, Deputy Director, Steyer-Taylor Center for Energy Policy & Finance, Stanford University Thomas Van Dyke, CIMA, Chair, As You Sow and Senior Vice President Financial Advisor, SRI Wealth Management Corp. 5:30 pm Welcoming Cocktail Reception 6:30 pm Welcoming Dinner WELCOME REMARKS: Kerry Kennedy, President, Robert F. Kennedy Center for Justice & Human Rights The Honorable John Chiang, Controller, State of California FRIDAY, MARCH 7 THE RITZ-CARLTON HALF MOON BAY 7:15 am Registration & Continental Breakfast 8:00 am Opening Remarks 8:15 am Fiduciary Panel Discussion: Is Alpha Dead? Steve Algert, Managing Director, The J. Paul Getty Trust William Lee, CIO and Vice President of Foundation and Pension Investments, Kaiser Permanente John Powers, President and CEO, Stanford Management Company MODERATOR: Mark Anson, Chief Investment Officer, Acadia Investment Management, Bass Family Office 2

9:00 am Passing the Wall of Worry: A Look at 2014 and Beyond from a Global Perspective SPEAKER: Anne Mathias, Head of Research, Guggenheim Partners 9:20 am Opportunities in Shareholder Activism Donald Drapkin, Founder and Chairman, Casablanca Capital, LLC Mick McGuire, Founder and Managing Member, Marcato Capital Management Brian Rice, Portfolio Manager, Corporate Governance, CalSTRS 10:00 am Refreshment Break MODERATOR: Kathleen Barchick, Senior Managing Director, Cliffwater LLC 10: 15 am Managing the Modern Portfolio: The Investment Outsourcing Dilemma Christopher L. Bittman, Partner, Perella Weinberg Partners James Dunn, Chief Investment Officer, Wake Forest University Michael Rosen, Chief Investment Officer, Angeles Investment Advisors David Schofield, Managing Director, Director of Portfolio Management- Institutions, Head of Capital Markets, Hall Capital Management 11:00 am Venture for Impact: Finding Returns from ESG Opportunities Dave Girouard, Founder, Upstart John Coehlo, Partner, StepStone Group LLC Additional panelist TBA MODERATOR: Rob Day, Partner, Black Coral Capital 11:40 am Making A Difference: Roadmaps for Effective Community Investing Kish Rajan, Director of Governor s Office of Business and Economic Development, State of California Additional panelists TBA 12:20 pm RFK Compass Education Report Anne Simpson, Senior Portfolio Manager and Head of Corporate Governance, CalPERS Additional panelists TBA 3

12:50 pm Luncheon 2:00 pm Afternoon Workshop: Taking Action to Achieve Positive Change GUEST SPEAKERS: Frank La Rue, Special Rapporteur, United Nations Sarah Labowitz, Research Scholar, NYU Stern School of Business 4:00 pm Conference Concludes 4

LOS ANGELES CITY EMPLOYEES RETIREMENT SYSTEM (LACERS) BOARD MEMBER EDUCATION EVALUATION FORM ATTACHMENT 4 Board Member Name: Conference/Seminar Title Date Location (City/State) Level of complexity of the Conference/Seminar: Conference/Seminar Category: Elizabeth L. Greenwood, Commissioner Robert F. Kennedy Center for Justice and Human Rights RFK Compass West Coast 2014 Conference March 6-7, 2014 Half Moon Bay, CA Introductory Intermediate Advanced Others: Finance/Investments Benefits (Retirement/Healthcare) Legislative/Fiduciary Law Corporate Governance Others: SEMINAR CONTENT Please provide an evaluation on the quality of the conference or seminar and its relevance to you as a Board member. 1. What letter grade would you give to the overall educational value of the conference/seminar? Rate seminar with A (excellent), B (very good), C (good), D (not beneficial). 2. Would you recommend your fellow trustees attend this conference? A B C D Comments: Never At least Once Annually Every other year Other Comments: 3. Do you feel the conference was a good use of your time? 4. Are there other conferences addressing this subject area that you feel would be a better investment than this conference? Yes No Why? Yes No Please provide the name/title of the recommended conference: Additional Comments: