Spokane (Wash.) Employees' Retirement System hired Wells Fargo Asset Management to run about $4 million in active domestic small-cap value equities.
The $304 million pension fund's board approved the hiring at its Oct. 7 meeting, recently released meeting minutes show.
Funding comes from a small-cap equity index fund managed by Fidelity Investments, where the assets have been parked since the June liquidation of the pension fund's investment in the Frontier Phocas Small Cap Value Fund managed by Frontegra Asset Management.
As of June 30, the actual allocation to domestic equities was 30.8%; the target is 32%.
Investment consultant Hyas Group assisted.
Phillip Tencick, retirement director, could not be immediately reached for further information.