Nope, There’s No Conventional Wisdom At The KRS

Conventional wisdom is that pension funds with lower funding ratios tend to move toward more liquid stocks and bonds and away from less liquid alternatives. Much like the Chicago Teachers did last month.

Kentucky Retirement Systems?

Doing the opposite. Three additional alternative managers this month. And another three in August.

Fun times.

Smells like an attempt to make it more difficult and expensive for CERS to pull out of KRS.

And don’t hold your breath waiting for RFPs to prevent corruption.