Wyoming Retirement System, Cheyenne, hired BlackRock, State Street Global Advisors and AllianceBernstein to run a total of $2.2 billion — more than one-third of the fund's assets — in passive equities, confirmed John Johnson, chief investment officer.
The $6 billion system issued an RFP in June to diversify its passive equity portfolio.
BlackRock had been the system's sole passive manager running domestic, international and emerging markets equities and will now run about $924 million, or 42% of the portfolio, with passive equities benchmarked to MSCI EM, MSCI USA and MSCI World ex-U.S. Investible Market indexes.
SSgA will run about $660 million, or 30% of the portfolio, with passive equities benchmarked to MSCI ACWI Risk Weight, and MSCI ACWI Value Weight Investible Market indexes; and AllianceBernstein will run about $616 million, or 28% of the portfolio, running passive equities benchmarked to MSCI USA and MSCI World ex-U.S. Investible Market indexes.
Mr. Johnson could not provide further details of each manager's portfolio.