Institutional Investors

Maryland Retirement picks up nearly 4% from hedge funds

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The Maryland State Retirement Agency reported absolute return strategy gains of 3.86% for the year ended 30 June 2012.

The $37 billion Maryland State Retirement and Pension System overall was up a meagre 0.36% for the fiscal year and therefore did not meet its 7.75% actuarial return target for this year, but did exceed the plan policy benchmark by 28 basis points.

“The last twelve months presented a challenging environment for investors, particularly in international equity,” said Melissa Moye, chief investment officer of the system. “Most of the system’s asset classes added value to the fund, offsetting the