Oklahoma Police Pension & Retirement System, Oklahoma City, hired Baring Asset Management to run $100 million in international growth equities, confirmed Steve Snyder, executive director and chief investment officer of the $1.7 billion system.
Funding will come from the termination of Artio Global Management, which ran the money in a similar style, for performance, Mr. Snyder said in a telephone interview. Artio spokesmann Neil Shapiro said in an e-mail that it is company policy not to comment on client activity.
Separately, the board approved rebalancing portfolio assets to fund the new 5% allocation to emerging markets equity after hiring Vontobel Asset Management and Wasatch Advisors in October. Vontobel will receive $59.5 million; Wasatch, $25.5 million. Funding comes from reducing Mellon Capital Management's $326.7 million large-cap core strategy.