Asset Owner Directory

Maryland State Retirement

The Maryland State Retirement and Pension System (SRPS) administers death, disability and retirement benefits on behalf of more than 405,000 members. These include active and former State employees, teachers, State police, judges, law enforcement

Country

United States

AUM ($B, AS AT DATE OF ASSET ALLOCATION)

$64

Performance (%, 1YR)

-2.97

Chief Executive

Martin Noven

Chief Investment Officer

Andrew Palmer

Chair

Peter Franchot

Asset allocation

28.4% Public Equity

0.4% Multi-Asset

21.5% Private Equity

19% Rate Sensitive

7.8% Credit

0.5% Cash

7.2% Absolute Return

11.1% Real Estate

4.1% Natural Resources & Infrastructure

Website

View the annual report

Global Pension Transparency Benchmark country system description

Asset allocation as of June 30, 2022. All information is as per the most recent annual report or other publicly available data via the fund's website

Top1000funds.com related articles

Governance

The politicisation of investments at US public funds

Attempts by multiple Republican states to restrict where US pension funds can invest are symptomatic of bad governance. Top1000funds.com takes a deep dive into the quagmire of US state pension funds to assess the impact on CIOs, highlighting the need prevent the politicisation of investments.

Amanda White with Sarah RundellJune 20, 2023

Risk

Cash rate scenario analysis drives asset allocation reset at Maryland

The asset allocation of the $63 billion Maryland State Pension System has protected the fund on the downside. But now CIO Andrew Palmer is looking at cash rates persistently of 4 per cent, what that means for various asset classes and how the fund should be allocating.

Amanda WhiteJune 8, 2023

FIS Chicago 2022

Superior return, risk metrics driving rising allocation to private markets

Some of North America’s largest funds – including British Columbia Investment Management Company, CalPERS and Maryland State - are ramping up their allocations to private markets, building in-house talent to take advantage of private equity and co-investment deals.

Ben HurleyJune 7, 2022

FIS Digital – November 2021

Real estate’s risks and opportunities ahead

As the demise of the office component in real estate allocations continues investors are favouring data centres, warehousing and low cost accommodation.

Sarah RundellNovember 11, 2021

Investor Profile

Maryland’s record year prompts actuarial rate reduction

Maryland State Retirement and Pension System is the latest fund to record an historical performance for the 2021 financial year, returning a best ever 26.7 per cent. Again public and private equities were the star performers with an exceptional 51.85 per cent return in private equity and 44.54 per cent in public equities But in recognition there might be a bill to pay for those higher returns in the future the fund has lowered its actuarial rate of return.

Amanda WhiteSeptember 9, 2021

Sustainability

Firearms Principles provide a target

A coalition of 13 institutional investors, led by the California State Teachers’ Retirement System, has crafted principles for engaging with entities that manufacture, sell or regulate guns in a way that fosters a responsible civilian gun industry and reduces risk. The guidelines are intentionally flexible so each organisation can apply them in accordance with its own models for engagement.

Christianna WoodNovember 22, 2018

View more articles

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