Pennsylvania Municipal Retirement System, Harrisburg, rehired LSV Asset Management to run $160 million in active domestic large-cap value equities, confirmed James Allen, secretary for the $1.8 billion pension fund.
The pension fund issued an RFP in December because LSV’s contract was expiring in February.
Mr. Allen said the pension fund received 49 responses to the RFP and upon studying the three- and five-year returns of the managers, LSV ranked highly enough that the pension fund’s board of trustees voted to retain the firm and bypass finalist interviews.
Investment consultant Dahab Associates assisted.
