Illinois State Board of Investment has selected State Street Global Advisors (SSgA) to manage its two equity index funds, Pensions & Investments reports. State Street will manage $200 million in a U.S. small-cap core equity index fund and $150 million in an emerging markets equity index fund.
Funding for the small-cap core fund may be generated by cutting down allocations across U.S. active large-cap equity managers, whereas for the emerging markets fund, it will come by cutting down the SSgA-managed MSCI ACWI ex-U.S. index fund to $490 million. Marquette Associates, investment consultant to the $10.8 billion system, assisted with the searches.
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