John C. Bogle Jr.s departure from Numeric Investors has left most of its institutional clients unaffected, despite the firms shuttering of one of its market-neutral styles.
Institutions invested in the original long-short market-neutral style had their money returned. But those invested in Numerics other market-neutral and long-only styles will watch the firm closely in coming months.
These include: Portland General Electric Co.; Virginia Retirement System; Massachusetts Pension Reserves Investment Management Board; BP Amoco; Monsanto Co.; and San Diego County Employees Retirement Association.
Numerics mutual fund investors may be in for some changes, if Numeric executives decide to refocus the firm on its institutional clients, selling or spinning off its mutual funds to Mr. Bogle or another firm, as speculated by one industry source.