Texas A&M University System, College Station, terminated Smith, Graham and handed its $130 million core plus fixed-income account to the systems other fixed-income manager, Payden & Rygel, which previously managed $109 million. The assets are part of Texas A&Ms $810 million pool of operating funds, separate from its $380 million endowment, said Greg Anderson, associate deputy chancellor and treasurer. Mr. Anderson said he was concerned about future returns with Smith, Graham because of recent staff turnover. He added that the university also wanted to consolidate its fixed-income assets. Officials at Smith, Graham did not return calls.