Kansas City Employees picks American Century, Riverbridge Partners for equities
By Rob Kozlowski | March 14, 2013 12:29 pm
The $925 million pension fund conducted an invitation-only search last year following an asset-liability study that increased the target to global equities to 14% from 7%. Hexavest was the other finalist.
Funding will likely come from domestic large-cap equities. No managers will be terminated, Mr. Boersma said in a telephone interview.
The pension fund also hired Riverbridge Partners to run $20 million in active domestic smidcap growth equities. The pension fund conducted an invitation-only search as part of its routine competitive review. Riverbridge replaces Oberweis Asset Management, which ran an active domestic small-cap growth equity portfolio of similar size.
Investment consultant Hewitt EnnisKnupp assisted.