Orange County Employees Retirement System, Santa Ana, Calif., investment committee will recommend that the funds board place Schroder Capitals international equity portfolio and Cadence Capitals large-cap growth portfolio on a watch list. Officials from Schroder and Cadence did not return phone calls for comment by press time. The recommendation in each case is due to concerns with performance, said Farouki Majeed, investment officer for the $4.4 billion system. In other action, the committee will recommend that the board keep unchanged the 5% limitation on non-U.S. equity holdings in the domestic equity portfolio managed by Delaware Investment Advisers. The recommendation came out of a regular annual review of Delawares allocation, Mr. Majeed said.