Siphron Capital Management resigned as investment manager to the $4.9 billion Orange County Employees Retirement System, Santa Ana, Calif., said David C. Siphron, president of the firm. Siphron managed domestic large-cap growth equities for the pension fund.
In a written statement, Siphron cited "basic philosophical differences concerning the OCERS investment portfolio between Siphron Capital and certain OCERS board members as well as its chief investment officer, Farouki Majeed. Mr. Siphron would not comment further.
Mr. Majeed could not be reached for comment by deadline.