[2] Fernández is the most emblematic player in the history of club Universitario de Deportes for which he played his whole career, winning six times the Primera División Peruana.

Known as "El Cañonero" ("The Cannoneer") due to his excellence as a centre-forward and his strong shooting, Fernández was the Primera División Peruana top-scorer seven times.

He learned to play football in primary school and was soon picked up by local club Huracán de Hualcará where he immediately stood out.

When Arturo transferred to first-division Universitario de Deportes, he brought Lolo along to play a bit of football in training and introduced him to the club's president, former 1930 World Cup player Placido Galindo, who decided to sign him.

[3] He made his professional debut with Universitario de Deportes in a friendly match against Club Deportivo Magallanes of Chile on 29 November 1931, scoring the game's only goal.

However, he represented Colo-Colo in friendly matches against the Argentine club Independiente in October 1940, alongside his compatriots César Socarraz, Pablo Pasache and his brother Arturo.

Another work in his honor is the dance El Taita Lolo Fernández with music by Alcides Carreño and lyrics by Fernando Soria.

On 17 September 1997, during a match against Sporting Cristal in the Clausura tournament of that year, the university's players wore jerseys with Fernández's image printed on the chest.

[25] In 2013, during a celebration of the centennial of his birth, the Chermany Inks: La Kasa Roja gallery presented an exposition of paintings done by nine artists in honor of Fernández.