Springfield (Mo.) Police Officers' & Firefighters' Retirement System hired Invesco (IVZ) to run a $20 million multiasset-class portfolio, said Janell Manley, administrative director, in an email.
The $412 million pension fund conducted a shortlist search following the creation of a 5% target to multiasset-class strategies in summer 2017 following an asset allocation study. Funding likely will come from cash, Ms. Manley said.
Invesco was the sole finalist.
Investment consultant Segal Marco Advisors assisted.