Kansas City (Mo.) Employees’ & Police Retirement System hired Systematic Financial Management to run $39 million in active domestic small-cap value equities. The $710 million system funded the hire by reducing Waddell & Reed’s existing active domestic small-cap growth equity portfolio, said James Pyle, pension systems manager. Further details were not available.
The system wanted to include a value component in its small-cap equity allocation, he said.
