Alaska State Pension Investment Board, Juneau, hired TCW to manage an active domestic small-cap equity portfolio, replacing Dresdner RCM. The size of TCWs portfolio has not been determined. The $13.2 billion pension fund terminated Dresdner RCMs $200 million portfolio in November because of performance and staff turnover, according to minutes of the boards November meeting. Officials at Dresdner RCM, which still runs a large-cap domestic equity portfolio for the fund, were not available for comment.
Dawn M. Vroegop, director of marketing at Dresdner RCM, noted that the firm has instituted disciplines into its small-cap product that should help turn performance around in the future.