Los Angeles County Employees Retirement Association, Pasadena, Calif., selected finalists in its search for a European equity manager.
Those selected are Putnam Investments; Fidelity Management Trust; and Clay Finlay. The $337 million allocation earmarked for the new manager is in a passive European index fund run by Bankers Trust.
Staff for the $25 billion fund, which originally considered nine managers for the job, is scheduling on-site visits to the finalists over the next few weeks before a final selection is made.
