Kansas Construction Trades, Topeka, hired equity managers Voyageur Asset to manage $16 million in active domestic large-cap growth and Brandywine to run $14 million in active international equities, said Gary Muckenthaler, plan administrator. Both are new asset classes for the $140 million plan. Funding will come from reducing fixed-income investments as well as a $34 million State Street Global Advisors S&P 500 Flagship index fund, he said.
The moves are the result of an asset-allocation study by Marco Consulting Group, Mr. Muckenthaler said. The plan's allocation will be 35% large-cap equity, 25% core fixed income, 10% small-cap equity, 10% international equity, 10% real estate equity, 5% stable value, 2.5% high yield fixed income, and 2.5% international fixed income.