Kansas City (Mo.) Employees' Retirement System committed $25 million to BlackRock Market Advantage Fund, confirmed Richard Boersma, executive officer.
The $950 million pension fund committed to the risk-parity strategy in an effort to further diversify its opportunistic investments allocation. The pension fund's target is 12%.
Funding comes from reducing a Mellon Capital Management asset allocation strategy, said Mr. Boersma in a telephone interview, leaving it with $75 million.
Investment consultant Hewitt EnnisKnupp assisted.