Ventura (Calif.) County Employee Retirement Association is searching for a global bond manager, a small-cap growth U.S. equity manager and its first Russell 1000 index manager, said Van Perris, administrator. No RFPs will be issued; candidates will be recommended by Asset Strategy, consultant to the $2.1 billion fund. The new global bond manager will replace Delaware Investment Advisers, which runs $200 million, because of personnel changes, Mr. Perris said; the small-cap growth manager will replace Pilgrim Baxter & Associates, which runs $70 million, because of poor performance; and the Russell 1000 index manager will replace Trinity Investment Management, which runs $200 million in large-cap value U.S. equity, due to a style change and poor performance.
Richard Unruh, Delaware Investment president, declined comment. Blake Gall, Trinity Investment CIO, and Gary Pilgrim, Pilgrim Baxter CIO, did not return calls by press time.