Pennsylvania Public School Employees' Retirement System, Harrisburg, hired Aberdeen Asset Management to run an active domestic core-plus fixed-income portfolio and a global fixed-income portfolio, according to a memo sent to the $52 billion system's board by James Grossman, director of public markets, risk and compliance. Mr. Grossman could not be reached for further specifics on the hiring.
Both portfolios are currently managed by the portions of Deutsche Asset Management that were acquired by Aberdeen earlier this year. According to the memo, the acquisition is expected to be completed on Nov. 30, when the retirement system's contract with Deutsche Asset Management's fixed-income operation will expire.
Evelyn Tatkovski, spokeswoman for the system, could not be reached for further details.