Comprehensive Annual Financial Report - Minnesota State ...

SBI & Consultants:
State Board of Investment $ 1,238
Financial Control Systems 182
Nuveen Investment Solutions 157
Pension Consulting Alliance 15
Total $ 1,592
Outside Money Managers:
Active Domestic Equity:
Barrow, Hanley $ 380
Earnest Partners 189
Goldman Equity 556
Hotchkis and Wiley 561
Intech Investment 474
Jacobs Levy Equity 452
Knelman Asset Management 147
LSV Asset 319
Martingale 275
McKinley Capital 410
New Amsterdam 243
Next Century 929
Peregrine Capital 664
Sands Capital 731
Systematic Financial 385
Turner Investment 651
UBS Asset Management 276
Winslow Capital 261
Zevenbergen Capital 600
Total $ 8,503
Passive Domestic Equity:
Blackrock $ 358
Schedule of Investment Fees
For the Fiscal Year Ended June 30, 2012 (in thousands)
Investment Section
Semi Passive Equity:
Blackrock $ 1,052
Mellon Capital 679
JP Morgan 1,127
Intech Investment 719
Total $3,577
Global Equity:
Acadian Asset $ 496
AllianceBernstein 223
AQR Capital Management 549
Capital Group 2,105
Columbia Investments 347
Invesco Global 305
JP Morgan Fleming 423
Marathon Asset 719
McKinley Capital 402
Morgan Stanley Dean 2,351
Pyramis Global Advisors 865
State Street 640
Total $9,425
Domestic Bonds:
Aberdeen Asset Management $ 579
Blackrock Financial 411
Columbia Investment 406
Dodge & Cox 502
Goldman Sachs 575
Neuberger 254
Pimco 1,129
Western Asset Management 547
Total $ 4,403
Fixed Interest:
Galliard Capital Management $ 7
Total Investment Fees $27,865
PERA's assets are commingled in various pooled investment accounts administered by the State Board of
Investment. The SBI uses outside money managers and consultants to invest the assets. The amounts in this
schedule represent PERA's share of fees paid to SBI, and fees paid by SBI to consultants and money managers.
A listing of commissions paid to brokers by the money managers can be obtained from the Minnesota State
Board of Investment.
Public Employees
Retirement Association
of Minnesota
51