Vermont State Teachers Retirement System, Montpelier, is choosing finalists in its search for an S&P 500 index fund manager to run $113 million. The $1.13 billion plan started the search following an asset allocation study. A decision is expected at the end of the month. Funding will come from reducing Delaware Investment Advisers $390 million active global equity portfolio.
Delaware will continue to manage $158.7 million in active domestic equities and $90.7 million in active international equities.