The $12 billion Public School Retirement System of Missouri and the $950 million Non-Teacher School Employee Retirement System of Missouri, both based in Jefferson City, hired Dimensional Fund Advisors, said Mark A. Caplinger, senior investment officer. DFA will run a small-cap domestic equity portfolio for each system. It was assigned $222 million from the school fund and $17 million from the non-teacher system.
Funding came from Keystone Investments, which ran similar small-cap portfolios for both funds and was dropped because of recent personnel departures. DFA was one of the original finalists in the systems' initial small-cap search and had been interviewed previously by the board. Strategic Investment Solutions assisted with the change.
Keystone didn't respond to a request for comment.