Roofers Local 20, Kansas City, Mo., hired INVESCO to run $5 million in active domestic large-cap core equities for the $48 million fund.
Funding came from terminating a $5 million active domestic large-cap core equity portfolio managed by Financial Counselors because it failed to meet its benchmarks, the S&P 500 and Russell 1000, said Jim Hadel, chairman of trustees. Financial Counselors continues to manage a $4 million active domestic fixed-income portfolio for the fund, he said.
Brian Parott, vice president at Financial Counselors, was not available to comment by press time.
