Indiana State Teachers' Retirement Fund, Indianapolis, will use State Street Global Advisors to manage the $86 million enhanced All-Country World index-ex U.S. fund in its participant-directed $3.2 billion annuity savings plan, said Steffanie Rhinesmith, equity investment officer. The fund was managed by Alliance Capital, Bank of Ireland Asset Management and Dresdner RCM.
Indiana Teachers hired SSgA along with several other managers in the spring to run the $400 million international allocation for its $3.3 billion defined benefit fund. The teachers' fund board typically uses the same managers for the savings plan, although the board decided to move away from the multimanager approach for the international fund, she said.