Louisiana Teachers' Retirement System, Baton Rouge, with $8 billion in assets, will be closely monitoring the performance of its $500 million in fixed-income investments with Boatmen's Trust following the mass departure of portfolio managers last month.
After meeting with Boatmen's officials today, the system's board decided not to pull its investments for now, said James Hadley Jr., director.
SCANA Corp., Columbia, S.C., is considering replacing one of the domestic equity managers for its $550 million defined benefit plan, said Larry Cope, plan manager.
He wouldn't disclose the name of the manager, which runs $20 million, but said the firm had not been performing. The board is expected to have a decision within the next 60 to 90 days, he said.
SEI Capital Resources is assisting.
Small-cap stocks, represented by the Russell 2000 Index, returned -5.17% in the first quarter, according to Frank Russell. It was the worst quarterly performance for small-caps since the second quarter of 1992.
The Russell 1000 index returned 1.5% for the quarter, while the Russell 200 Index returned 2.6%. The 50 largest stocks returned 3.5%, the best performance of any capitalization group for the quarter.
Value stocks outpaced growth in all capitalizations for the quarter.