Consistent with the above goals, law and policy, the study should include: • An evaluation of historic and projected future performance of institutional investments made in Maryland-based businesses as compared to the broader investment opportunity set by asset class. • An analysis of the performance of the System’s investments in Maryland companies relative to its similar non-Maryland investments and similar broad asset class benchmarks. • An analysis of how an in-state investing program might support broader State economic objectives like job creation, economic competitiveness, technological innovation, etc. • An analysis of the volume of investments made in Maryland-based companies by asset class in an average year to help determine the potential proportion of those investments that might reasonably be made by the System, with the objective of achieving top quartile performance. • An analysis of, and recommendations for, potential in-state investment strategies specifically relating to equity, debt, real estate and infrastructure investments, and differentiate the potential investment opportunities by size and sector/industry in the State...
