Trustees of the Public School Retirement System of Missouri and the Non-Teacher School Employee Retirement System of Missouri, Jefferson City, with combined assets of $13 billion, hired five domestic equity managers.
Ark Asset Management and Brinson Partners will run $730 million each in large-cap value stocks; Alliance Capital Management, $730 million in large-cap growth; Thomson, Horstmann & Bryant, $240 million small-cap core; and Keystone Investments, $240 million small-cap growth.
Funding came from terminating four equity managers: Boatmen's Trust, which had managed $1.5 billion of large-cap equities; Dalton, Greiner, Hartman, Maher, which had managed $220 million of large-cap equities; Denver Investment Advisors, which managed $260 million of midcap stocks; and Loomis, Sayles, which had handled about $750 million of large cap U.S. stocks.
The changes are due to a shift in the funds' asset allocation policy.
