Kansas City (Mo.) Employees Retirement System hired GMO to run $50 million in core-plus fixed income, confirmed Rick Boersma, executive officer, retirement services. The $915 million plan funded the portfolio by reducing a Lehman Aggregate index fund run by Northern Trust, leaving it with $75 million. Ennis Knupp assisted with the invitation-only search, which began early this year.
Separately, the Kansas City Firefighters Pension Plan hired Western Asset Management to run $35 million in core-plus fixed income, Mr. Boersma said. Funding comes from terminating a $35 million Lehman Aggregate index fund run by Northern Trust. Callan Associates helped the $465 million plan with the invitation-only search, which was initiated late last year.
The new portfolios were added for diversification.