b'INVESTMENT ACTIVITIESOver the course of this year, the Fund implemented the asset allocation consistent with Board decisions. Several of the Funds existing manager contracts were renewed. Managers that were rehired include: AllianceBernstein, L.P., anCohen & Steers CapitalPrincipal Global Investors active domestic small capManagement, Inc., an activeLLC, an active international equity manager REIT manager small cap equity managerWestwood ManagementAEW Capital Management,Victory Capital Management, Corp., an active domesticL.P., a separate account realInc., an active international small cap equity manager estate manager small cap equity managerPhocas FinancialEastern Shore CapitalFrontier Capital Corporation, an activeManagement, an activeManagement Company, LLC, domestic small cap valuedomestic small cap equityan active domestic small cap manager manager growth equity managerMedalist Partners, an activeBaillie Gifford OverseasLM Capital Group, LLC, an MBS fixed income manager limited, an activeactive fixed income managerinternational equity managerThe Fund also terminated the following contracts:Harding Loevner, an active emerging markets equity managerDimensional Fund Advisors, an active emerging markets equity managerThe Systems assets are managed by both active and passive invest-ment managers. The active managers are hired to outperform a market index. The passive managers are hired to match the perfor-manceofcertaininvestmentindices.Theseindicesincludethe domestic public equity S&P 500 and 600 indices, the Russell 1000 Growth index, the international public equity MSCI EAFE index, the fixed income Bloomberg U.S. Aggregate index, the Bloomberg U.S. TreasuryTIPS1-5Yearsindex,thecommoditypublicequityS&P Global Natural Resources index, and the real estate public equity FTSE EPRA/NAREIT All Equity REITs and Developed indices. A list of the Systems managers is provided at the end of this section.102 LAFPP ANNUAL REPORT 2024'