Kentucky Retirement Systems, Frankfort, added passive small-cap equity to its nearly $7 billion fund and decided to manage the indexed portfolio in-house, rather than hire an outside manager, said Marlene Castle, compliance officer.
Pension fund staff are managing about 5% of the overall fund based on the S&P 600 Index. Software from Wilshire Associates enables fund staff to easily manage the indexed option, said Ms. Castle, who added the portfolio's core stock positions are still being established. Kentucky began managing the new asset class July 1.
