Indiana's $6bn State Teachers' Retirement Fund has appointed Holt-Smith and Yates to run a $25m active US large cap growth equities mandate.
Robert Newland chief investment officer of the fund said that funding for the mandate will come from reducing an S&P 500 index fund brief currently run by Barclays Global Investors (BGI). As a result, BGI's mandate now stands at $975m.
Newland added that the mandate and the appointment of Holt-Smith was a direct result of an asset allocation study.
By Geoffrey Ho
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers