New York State & Local Retirement Systems, Albany, with $78 billion in assets, redistributed $500 million among its international managers. In the process, three EAFE index fund managers had their allocations reduced: Alliance Capital Management lost $250 million; Brinson Partners, $150 million; and Schroder Capital Management International, $100 million.
The fund added $100 million to emerging markets managers: BZW Barclays Global Investors received an additional $50 million, and Acadian Asset Management and Schroder Capital each received $25 million.
The balance was shifted to two existing active/passive core international managers. Baring Asset Management received an additional $300 million; Morgan Stanley, $100 million.
