Joplin (Mo.) Policemen's and Firemen's Pension Plan hired American Realty Advisors to manage $4 million in an open-end core real estate portfolio, said Leslie Haase, the city's finance director.
The $37 million pension fund's investment in the American Core Realty commingled fund is funded by liquidating an iShares natural resources account and the PIMCO All-Asset fund. It is the pension fund's first real estate investment.