Ohio State Highway Patrol Retirement System, Columbus, will add $48 million to a State Street Global Advisors S&P 500 index fund, increasing it to $73 million, said Richard Curtis, executive director. Funding will come from reducing active domestic large-cap value equity manager MacKay Shields portfolio to $30 million. Callan assisted.
Separately, the $600 million plan terminated Navallier, which ran a $40 million active domestic small-cap-to-midcap growth equity portfolio. An asset allocation study of the plan recommended moving assets out of the asset style. The money is earmarked for a passive Russell 2500 Growth index fund, and system officials will decide whether to place the assets with existing Russell 2500 index manager World Asset Management, which handles $5 million, or conduct an invitation-only search for another manager, Mr. Curtis said.