Some of the mandates of the managers retained and terminated by the Teachers' Retirement System of Illinois were incorrect in a Nov. 1 story about changes at the fund.
Among domestic equity managers, Lincoln Capital Management will manage $792 million, down from $1.9 billion; Sanford C. Bernstein will manage $660 million, up from $315 million; Lazard Asset Management will manage $198 million, down from $271 million; Pacific Investment Management Co. will manage $660 million, down from $1.3 billion. For international equity managers, Brandes Investment Partners will manage $123 million and Delaware International Advisers Ltd. will manage $356 million. For domestic fixed-income managers, PIMCO will manage $2.3 billion. Western Asset Management, which managed $466 million in domestic fixed-income, was terminated.
One terminated manager -- Wayne Hummer Management Co. -- was incorrectly termed an emerging manager. Valenzuela Capital Partners Inc. should have been included as an emerging manager.
Active bond managers will be permitted to invest up to 10% of their mandates in high-yield securities, not 3%.
The first reference to Laura Zimmerman was deleted inadvertently from a story about European bonds in the Nov. 1 issue. Ms. Zimmerman is a senior vice president, portfolio strategist, global bond portfolios, with Payden & Rygel in Los Angeles.