Public School Retirement System of Missouri, with $16.6 billion in assets, and the $1.2 billion Non-Teacher School Employees' Retirement System, Jefferson City, Mo., hired Barrow Hanley Mewhinney & Strauss, said Mark A. Caplinger, CIO. Barrow Hanley will manage $1.05 billion in domestic large-cap value equities.It was selected over two other finalists, Boston Partners Asset Management and First Quadrant.
The systems, whose assets are managed identically, 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 will come from the S&P 500 index fund and another rebalancing. Strategic Investment Solutions is assisting in the search.
