Sonoma County Employees Retirement System, Santa Rosa, Calif., hired Capital Guardian Trust to manage $79 million in active international core equities and Reams Asset Management to run $120 million in active domestic core-plus fixed income, said Greg John, assistant administrator of the $875 million system.
Funding for the international manager will come from rebalancing; funding for the fixed-income manager will come from termination of an active core-plus fixed-income portfolio run by Zurich Scudder, said Mr. John.
"Zurich Scudder was not terminated for performance issues. We still have a strong relationship with them, he said.
Zurich Scudder still runs a $79 million active international core equities portfolio for the pension fund.