b'LOS ANGELES FIRE AND POLICE PENSION SYSTEM REQUIRED SUPPLMENTARY INFORMATION HEALTH SUBSIDY PLAN SCHEDULE OF INVESTMENT RETURNS (Unaudited)2024 2023 2022 2021 2020Annual money-weighted rate of return,gross of investment expense 9.94% 7.78% -7.23% 32.56% 3.04%2019 2018 2017 2016 2015Annual money-weighted rate of return, gross of investment expense 6.21% 9.21% 13.27% 1.04% 4.15%Notes to Schedule:GASB Statement No. 74 requires this information to be reported for 10 years. The money-weighted rate of return expresses investment performance, gross of investment expense, adjusted for the changing amounts actually invested. The source for the rate of return was the June 30 Investment Hierarchy and Monthly Returns Analysis provided by the custodian bank, Northern Trust. For the fiscal years 2015 through 2024, the custodian bank did not have all information related to investment expense to calculate the money-weighted rate of return net of investment expense. In fiscal year 2022, rates for the fiscal years 2016 and 2018 were updated from preliminary rates to final rates.See accompanying notes to required schedule and accompanying independent auditors report.67 84 LAFPP ANNUAL REPORT 2024'