St. Joseph (Mo.) Police Pension Fund hired Citizens Bank & Trust as investment manager for the pension fund's $37 million in assets, said Kitty Karr, accountant for the city.
An RFP was issued in April; the city puts investment management services up for bid every five years. Current manager Meritage Portfolio Management was a finalist along with U.S. Bank.
The pension fund has an allocation of 65.5% equities and 34.5% fixed income.
No consultant assisted.