The $20.2 billion Maryland State Retirement System, Baltimore, hired...

The $20.2 billion Maryland State Retirement System, Baltimore, hired W.R. Huff Asset Management Co. to manage $100 million in high-yield bonds, said Executive Director Peter Vaughn. The new allocation will come from internally managed bonds, Mr. Vaughn said. This is the first time the fund has hired a manager to solely manage high-yield bonds; two other managers are allowed to invest up to 5% of their allocation in high-yield bonds.