Kansas City (Mo.) Police Employees Retirement Systems investments lost 0.9% for the quarter ended Dec. 31, missing its custom benchmark by 10 basis points, said Jim Pyle, pension systems manager. The $874 million plan returned 8.7% for 2007, outperforming its benchmark by 620 bps, and gained an annualized 13.0% for the five years ended Dec. 31, surpassing the benchmark by 160 bps.
The plans active emerging markets equity manager, GE Asset Management, had the best return for the quarter at 7.6%, topping the MSCI Emerging Markets indexs 3.6%. Systematic Financial Managements active domestic small-cap value portfolio posted the biggest loss, -8.0%, but outperformed its Russell 2000 Value index benchmark by 70 bps.
Active fixed-income manager Financial Counselors, which runs $276 million, gained 3.1% for the quarter, while active large-cap value equity manager LSV Asset Management, which handles $173 million, lost 5.8%.