Kansas City (Mo.) Employees' Retirement System hired Fidelity Institutional Asset Management to run $80 million in active domestic non-core fixed income and Lazard Asset Management to run $70 million in active international equities, said Barbara Davis, executive director, in an email.
The $1.1 billion pension fund has not funded the hires yet, Ms. Davis said, but she said they are new mandates and will be funded from rebalancing, likely from reductions in domestic and global equity managers.
As of June 30, the actual allocations to fixed income and international equities were 23.6% and 8.3%, respectively.
Investment consultant RVK assisted.
