New Orleans Employees’ Retirement System plans to search for a domestic large-cap core equities manager to run $35 million, said Jerome Davis, chairman of the board of trustees at the $335 million fund. Details have not been worked out. Mr. Davis said there is concern over current manager Schroder’s "overlap in strategy” with other managers, since Schroder has drifted toward growth.
Officials at Schroder did not return calls seeking comment.
