The Investment Division of the Maryland State Retirement Agency selected Albourne America to advise its staff on the state retirement system’s absolute return portfolio.
The $35.4 billion system had roughly $2.5 billion invested in its absolute return allocation as of the end of November. Albourne will act as an extension of the investment staff by providing non-discretionary advisory services on all of the Maryland State Retirement Agency’s absolute return investments, which are capped at 15% of plan assets. The current allocation represents 7% of plan assets.
“We look forward to working closely with