Virginia Retirement System, Richmond, is looking for opportunities to manage more of its assets in-house, said CIO Charles Grant. The $44 billion system currently manages a total of $11 billion of its fixed income, domestic equity and domestic REITs internally, as well as selective currency hedging. "We see continued opportunity to add assets in each of those areas." Mr. Grant said. The system recently created a formal investment research program and hired three researchers to assist investment staff with portfolio management.