Public School Retirement System of Missouri, with $16.6 billion, and the $1.2 billion Non-Teacher School Employees'' Retirement System, Jefferson City, selected three finalists in a search for domestic large-cap value, said Mark A. Caplinger, chief investment officer.
They are Boston Partners Asset Management, Barrow Hanley Mewhinney & Strauss, and First Quadrant. A decision is expected in mid-June.
The systems, whose assets are managed identically, will allocate $1.2 billion to the area, possibly dividing the money among more than one new manager.
The systems had terminated Ark Asset Management, which ran a similar portfolio, assigning part of the proceeds temporarily to a State Street Global Advisors S&P 500 index fund. The other part went to a rebalancing.
Funding may come from the S&P 500 index fund and another rebalancing.
Strategic Investment Solutions is assisting.