Kansas City (Mo.) Police Employees' Retirement Systems hired Grantham Mayo van Otterloo to run a total of $39 million in a global tactical asset allocation strategy, said Jim Pyle, pension systems manager.
GMO, the retirement system's first GTAA manager, will run $34 million for the $763 million Police Retirement System of Kansas City and $5 million for the $117 million Civilian Employees' Retirement System of the Police Department of Kansas City.
Funding will come from rebalancing; no managers will be terminated.
Investment consultant R.V. Kuhns & Associates assisted.