LITTLE ROCK, Ark. — The Arkansas Public Employees Retirement System hired Horrell Capital Management to run $50 million through the firm's Arkansas Index Fund, which invests in Arkansas-based companies employing at least 1,000 workers, and INVESCO Real Estate to manage $50 million in global REITs, confirmed Susan Bowers, associate director of investments. INVESCO already runs $90 million in domestic REITS for the $5.2 billion plan. No managers were terminated.
Funding for the global REITs will come from general rebalancing of assets, Ms. Bowers said. Funding for the Horrell mandate will come from the plan's $424 million in passive domestic equities managed by BNY Asset Management, $9 million of which is benchmarked to the Russell 3000 and the remainder to the S&P 500.
Callan Associates assisted.