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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