The Pennsylvania State Employees’ Retirement System, Harrisburg, has named four managers to run up to $3.5 billion, Pensions & Investments reports. Mellon Capital Management, an institutional investment manager in the U.S. with 505 clients representing $195.1 billion in assets under management as of September 30, has been appointed to manage $3 billion in global index equities.
It has also been appointed to manage three equity index funds in its $2.2 billion deferred compensation program. The options are new. The system has also named three Tips managers to run up to a total of $500 million. Brown Brothers Harriman and Pacific Investment Management Co. will run up to $200 million each and New Century Advisors will manage $100 million. The appointments are part of the retirement system’s effort for diversity among managers.
Click here for the story from Pensions & Investments.