Tennessee Consolidated Retirement System, Nashville, is searching for an emerging markets equity manager to replace Chancellor LGT, now INVESCO Capital Management (NY), which manages $120 million for the $21 billion fund.
CIO Tom Mulne said trustees are concerned about the recent merger between Chancellor and AMVESCAP and earlier personnel turnover. He also said performance was a problem.
The fund has received 38 responses to date, including one from AMVESCAP; fund officials are awaiting more responses.
Mr. Mulne said he wasn't sure when a decision would be made.