Police Retirement System of Kansas City (Mo.) and Civilian Employees Retirement System of the Police Department of Kansas City may search for two large-cap domestic managers, one value and one growth, to run combined portfolios for both funds. The portfolio sizes have not been determined.
In addition, the funds will reduce Financial Counselors $229 million active large-cap domestic equity portfolio which comprises $208 million for the police plan and $21 million for civilian employees plan or terminate the manager, Mr. Boeding said.
The two funds, with combined assets of $710 million, will decide within the next few weeks, said Brian Boeding, retirement board secretary.
Mr. Boeding declined to comment on the reasons for the changes.