Anne Arundel Retirement System, Annapolis, Md., will review private equity fund-of-funds managers at its Sept. 8 board meeting, said Thomas Mullinix, personnel manager. At the July 7 investment committee meeting, officials of the $1.1 billion fund decided to allocate 2% of total assets to this new asset class. Mr. Mullinix said the funding source has not been determined.
The system also hired Fidelity Management Trust to run $115 million in active international equities to replace Capital Guardian Trust because of poor performance over the past five years. Calls to Kelly Malarky and Chuck Freadhoff at Capital Guardian were not returned by press time.
New England Pension Consultants is assisting.