Wichita State University Foundation, Wichita, Kan., hired Speece Thorson to manage $6 million in active domestic midcap value equities, and invested $6 million in the Brazos Midcap fund, said Patsy Selby, associate vice president of finance. The $80 million foundation will fund the investments by reducing active domestic fixed-income portfolios run by Loomis Sayles and INVESCO by $4 million each, to $8 million each, she said. The foundation also will reduce an active domestic large-cap growth portfolio managed by Cohen, Klingenstein & Marks and an active domestic large-cap value portfolio managed by Oppenheimer Capital by $2 million each, to $10 million each. The plan wanted to add midcap equity to its portfolio, she said. Shaker Investments and Cooke & Bieler were also finalists in the manager search, she said.
Its asset allocation is 55% domestic equity, 20% fixed income, 15% international equity and 10% hedge funds. Fund Evaluation Group advised.