Florida State Board of Administration puts four managers on watch
By Barry B. Burr | March 15, 2013 2:57 pm
Florida State Board of Administration, Tallahassee, placed on watch four money managers running a total of $1.7 billion — Trilogy Global Advisors, Epoch Investment Partners, Franklin Templeton (BEN) and Pioneer Investment Management — according to a report prepared by Mercer for the FSBA staff.
Trilogy Global, which manages $1 billion in active emerging markets core equity, was listed on watch for performance. William P. Sterling, CEO and chief investment officer, couldn't be reached for comment.
Epoch Investment, which manages $353 million in active international developed markets core small-cap equities, was put on watch for organizational changes because of the departure of lead portfolio manager Emily Baker. John Wachter, director of marketing and communications at Epoch, said officials do not comment about clients. Information about Ms. Baker was unavailable.
Franklin Templeton, which manages $271 million in international developed markets small-cap equities, was placed on watch for organizational changes because of the departure of David Glazer, vice president, who joined Pioneer Investment Management as vice president and portfolio manager. Spokeswoman Bill Weeks said officials declined to comment.
Pioneer Investment, which manages $124 million in active large-cap domestic equity for the $7.65 billion FRS 401(a) plan, was listed on watch for performance. Geoff Smith, Pioneer spokesman, said officials declined to comment.
BlackRock, which manages $1.7 billion in a core alpha tilt enhanced equity strategy, tracking the MSCI World ex-U.S. index, was placed on watch last year for performance and was removed after meeting expectations.
RREEF, which manages $305 million in a separate account global real estate investment trust strategy, was placed on watch in 2011 and was removed after resolving concerns about its acquisition by Deutsche Bank.
Cohen & Steers, which manages $293 million in global real estate investments trusts, was placed on watch last year and was removed after resolving organizational concerns.
The FSBA oversees $162.3 billion.