The Alaska Permanent Fund has entered an agreement with U.S. asset manager Russell Investments. The fund has selected the Russell Fundamental Developed Large Company Index as the benchmark for a $640 million quasi-passive global equities mandate. Previously, a cap-weighted MSCI World index was the benchmark for the strategy, adds Pensions & Investments. State Street Global Advisors, which presently serves as the manager of the strategy, will continue in the role.

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