Indiana Public Retirement System, Indianapolis, rehired Baillie Gifford Overseas as an active international equity manager for the $30.3 billion pension fund.
Baillie Gifford will manage $530 million. Its contact was due to expire this year.
The terminations were not related to performance, said Jennifer Dunlap, INPRS spokeswoman. She couldn’t comment further.
The assets were moved to Baillie Gifford and the pension fund’s other active international equity managers Arrowstreet Capital, which will now manage $540 million; and Altrinsic Global Advisors, which will run $340 million.
An RFP was issued March 17.
INPRS had $1.4 billion in international equity as of June 30, part of its 23.6% global equity allocation.