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December 14, 1996 12:00 AM

Teachers' Retirement System of Illinois, Springfield, shifted $545...

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    Teachers' Retirement System of Illinois, Springfield, shifted $545 million at Tuesday's board meeting, most of the changes resulting from the termination of RCM Capital Management.

    A decision on a new asset allocation is likely to be made at the board's next meeting in late February.

    RCM was terminated for a large-cap growth portfolio of at least $475 million. Of that amount, more than $200 million will go to Munder Capital Management and $150 million to Lincoln Capital, both for growth equities. For value equities, $75 million will shift to Oppenheimer, $25 million to Sturdivant and $25 million to Paradigm. All are existing managers for the $15 billion fund.

    In a presentation to the board, RCM executives agreed their performance has been average, but said the firm fared better on a risk-adjusted basis.

    In addition, Mentor Investment Group was hired for $25 million in small-cap growth stocks; an existing PIMCO equity portfolio was given $25 million more; and an existing small-cap portfolio run by Fiduciary Management was given $20 million more.

    Funding for all three came from Zimmerman Investment Management, which had been terminated earlier.

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