Norfolk County Retirement System, Dedham, Mass., terminated State...

Norfolk County Retirement System, Dedham, Mass., terminated State Street Global Advisors as a domestic small-cap manager, and split the $20 million it managed between Morgan Grenfell and INVESCO, its other two small-cap managers, said Timothy Cahill, county treasurer. The move will consolidate small-cap managers and save expenses, Mr. Cahill said. Morgan Grenfell is a domestic small-cap growth stock manager; INVESCO takes a value approach. The $340 million system also hired two real estate managers for closed-end funds — TA Associates received $4 million, and Sentinel (an existing real estate manager) received $2 million. The system also hired MFS to run $10 million in international stocks.