The State Retirement and Pension System of Maryland, Baltimore, hired Acadian Asset Management to run about $500 million in global equities, said Steven Huber, CIO. Partial funding came from cutting $400 million from an international equity portfolio run by Capital Guardian, giving $200 million each to Acadian and to an existing international equity portfolio run by Franklin Templeton Institutional. CapGuardian and FTI now run $1.3 billion each, and both portfolios were switched to global equities. The funding source for the remainder of Acadian's portfolio has not been determined.
Officials for the $31.8 billion system also hope to complete invitation-only searches in the next few months for a manager to run $1.3 billion in enhanced indexed equities, a manager to run $600 million in real-return fixed income and a manager to run $300 million in active international small-cap equities, he said. Ennis Knupp is assisting. The portfolios are being added as part of a new asset allocation adopted in December.