Maine State Retirement System board of trustees terminated $200 million active fixed-income manager Standish Ayer & Wood. Gary Emery, investment officer for the $7.5 billion fund, declined to comment. At the end of last year, 31.7% of the Augusta-based fund was invested in fixed income. Executives at Standish Ayer & Wood did not return calls by press time.
Separately, in a move to rebalance, the fund is moving $100 million from a State Street Global Advisors Wilshire 5000 fund to an active fixed-income fund run by TCW.