Kentucky Retirement Systems’ external managers each will be barred from running more than 15% of the $13 billion Frankfort-based system’s investment portfolio under a new state law signed by Gov. Steve Beshear.
The new law also requires that two of the three members appointed by the governor on the nine-member system board have at least 10 years of investment experience.
Experience cited as acceptable under the law includes a portfolio manager with fiduciary responsibility, securities analyst or investment consultant, a chartered financial analyst in good standing with the CFA Institute, or any other professional with exceptional experience in the field of public or private finances.
