Kemper Corp., Chicago, hired Northern Trust Asset Management to run its global small-cap “engineered equity” strategy for the company’s defined benefit plan, said Heath Bray, portfolio manager at Kemper.
Funding will come from “a more passive allocation,” Mr. Bray said. He declined to provide additional information, including the size of the allocation.
The Northern Trust strategy seeks to “capture the premium associated with high-quality small-capitalization stocks while minimizing uncompensated risk factors,” said a news release from Northern Trust.
Kemper’s pension fund had about $525 million in assets as of Dec. 31, 2013, according to its most recent 10-K filing.