Public School Retirement System of Missouri, Jefferson City, hired INVESCO to manage a $750 million active international equities portfolio. Dresdner RCM Global Investors was the only other finalist, said Craig Husting, CIO for the $20 billion system.
The new allocation’s international benchmark is the MSCI, ACWI ex-U.S. index.
Bank of Ireland and Oechsle, which run active international portfolios for the system, and State Street Global Investors, which has an indexed portfolio, each will be reduced by $250 million to fund the new mandate.
