Alameda County Employees' Retirement Association's investment committee has put Boston Co. Asset Management on probation for underperformance. The firm manages about $250 million in large-cap value stocks for the $3.2 billion fund.
But the underpeformance could be due, at least in part, to the way the pension fund benchmarks Boston Co. It uses the broad-based Russell 1000 index, instead of a large-cap value index, noted Vincent Loporchio, spokesman for Boston Co.
