Maryland State Retirement and Pension System, Baltimore, is studying whether to revise its policy on investments in funds that use placement agents, said R. Dean Kenderdine, executive director of the $25.6 billion fund.
“We’re wanting to make sure that our investment program, where placement agents are being used, is appropriately transparent to our system stakeholders,” Mr. Kenderdine said in a telephone interview. “The whole issue of placement agents has received a lot of attention recently and has prompted our board to the study the matter as it is related to our own investment program.”
The system is invested in some funds that have used placement agents, Mr. Kenderdine said. He declined to identify the funds.
