Kansas Public Employees Retirement System, Topeka, tentatively hired another beta overlay manager to help operate the $12 billion systems $1 billion portable alpha program, as well as asset rebalancing and cash securitization, confirmed Robert Vince Smith, CIO. He would not identify the manager pending contract negotiations, expected to be completed in three to six weeks.
Were expanding the portable alpha (program) to better manage our domestic equities exposure, Mr. Smith said. Payden & Rygel Investment Management is the current beta overlay manager, running about $250 million, Mr. Smith said. Payden & Rygel was allowed to bid on the portable alpha program, Mr. Smith said.
The systems domestic equity portfolio is about $3.7 billion, Mr. Smith said.