Kansas PERS Awards $1.1B Int’l Equity Mandate to MFS in Manager Search

The Kansas Public Employees Retirement System (PERS) has selected MFS Investment Management as its new international equity manager with an initial allocation of $1.1B, concluding its manager search for the mandate from last year.

Per a confirmatory email received by Dakota from the pension’s general counsel Laurie McKinnon, Kansas PERS approved the retention of MFS as international equity manager during its January 17 board meeting, following the termination of JP Morgan from the roster due to personnel changes and underperformance. The allocation to MFS will come from the liquidation of the JP Morgan account, which is valued at approximately $1.3B, with the remaining amount to be used for rebalancing. Mawer and William Blair were also considered out of the 19 respondents to the RFP.

The pension’s investment staff said it expects the manager transition to complete in the first quarter. General consultant Meketa assisted the pension in the manager search and selection process.

Written By: Dakota

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