Kansas City (Mo.) Firefighters' Pension System invested $40 million in BlackRock's Strategic IncomeOpportunities Fund, said Barbara Davis, executive director, in an email.
The $500 million pension fund's investment came as a result of the board's decision to add absolute return to its 30% fixed-income target.
The pension fund also hired Polen Capital Management to run $12 million in active domestic large-cap growth equities and terminated active domestic large-cap growth equity manager Brown Advisory, which ran $27.5 million.
The termination resulted from a change in the pension fund's allocation to domestic large-cap equities, moving to 75% passive management and 25% active management within the pension fund's 15% large-cap equity target.
Ms. Davis had no further information.