MERS Awards $200M U.S. Microcap Mandate
The Michigan Municipal Employees’ Retirement System,Lansing, has appointed four U.S. microcap equity managers.
The Michigan Municipal Employees’ Retirement System (MERS), Lansing, has appointed four U.S. microcap equity managers, Pensions & Investments reports. The selected managers have been awarded a mandate of about $50 million each.
The managers are Eudaimonia Asset Management, Kennedy Capital Management, Morgan Dempsey Capital Management and Punch & Associates Investment Management. Funding will come from changes made during an asset allocation overhaul approved in July. The search was performed by the $6 billion system’s staff.
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