After a stress test, outside advisers said the investment strategy for the Kansas Bioscience Authority’s retirement plan for KBA employees was “prudent” and able to withstand most reasonable interest rate changes.

Chicago-based Hewitt EnnisKnupp Inc. reviewed the returns on the investments made by the KBA for its employee retirement plan.

The test was made to determine the risk involved in its plan if interest rates were to rise. The company ran several tests and said the KBA’s investments would result in a positive return if interest rates were to rise gradually.

Even in circumstances with a sharp increase in interest rates, the investments would likely result in a negative return for one month, but growth would compensate for the losses in the long term.

The KBA’s executive committee also approved minor modifications to two existing investments on Monday with Aratana Therapeutics Inc. of Kansas City, Kan., and Evogen Inc. of Kansas City, Mo.

The KBA is investing $500,000 to relocate Evogen to Kansas, and the executive committee on Monday took action that changed some of the board-approved milestones for numbers of jobs created and other mesaures, and changed the timing for when the company would receive the funds.