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Md. pension fund to commit $200M per year to noncore real estate funds

Maryland State Retirement and Pension System plans to inject roughly $200 million per year in noncore real estate funds, particularly those focused on the U.S. West Coast markets, IPE Real Assets reported.

The move is part of the pension fund's portfolio rebalancing, with a goal of achieving its 10% target real estate allocation in five years.

Real estate consultant The Townsend Group advised the pension fund to use quarterly deposit and redemption windows to refine its core portfolio, to evaluate its real estate investment trust strategy and to review its allocation targets and mandates for public real estate securities, IPE noted, citing a board meeting report.