Montgomery County Employees Retirement System, Rockville, Md., is shifting its domestic equities portfolio to eliminate a value bias, said Patrick Bell, director of pension investments. The $1.8 billion fund is converting RhumbLines $100 million Russell 1000 value index portfolio into a Russell 1000 growth index portfolio, Mr. Bell said. RhumbLine will continue to manage a separate $170 million Russell 1000 portfolio. We found we had a very strong value bias, Mr. Bell said. The system hopes to complete the rebalancing by year-end.