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
The secretary of state for work and pensions has told MPs clawback and avoidance measures could be imposed for the people responsible for driving Carillion over the cliff.
Occupational pension provision has continued to grow in value, but there remains large variance in incomes across the pensioner age group, according to latest government data.
Defined benefit (DB) schemes could have an aggregate surplus by 2021 under Pension Protection Fund (PPF) projections, its strategic plan for 2018 to 2021 reveals.
Investment consultants are failing to recommend products that outperform net of fees, the Competition and Markets Authority (CMA) has said as its investigation into the market continues.