South Dakota Retirement System, Sioux Falls, hired Brandes Investment...

South Dakota Retirement System, Sioux Falls, hired Brandes Investment Partners to manage $30 million in active international equities and Sanford C. Bernstein to run $30 million in active global equities, said Matthew Clark, state investment officer. Funding came from reducing the system's $3.6 billion in internally managed global equities - the $6 billion fund manages roughly 90% of assets internally, and fund officials hired the managers for further diversification and for the "educational benefits" outside managers can provide for staff members, Mr. Clark said. Fund officials chose the two managers after following their performance for a long time; no RFP was issued, Mr. Clark said.