San Diego Employees’ Retirement Association fund took $140 million from large-cap value manager Trinity Investment to add to a $20 million internally managed value portfolio, said Robert Snigaroff, chief investment officer for the $4 billion fund.
The internally managed portfolio comprises about 150 large-cap value stocks. From its inception nearly 31/2 years ago through mid-January, he said, it has returned a compound annual 20.4%, compared with the Russell 1000 value index return of 19.6%.
