Berrien County Retirement System, St. Joseph, Mich., hired TT International and Martin Currie to manage $5.3 million each, both in passive and active international blended growth and value equity portfolios, said Shelley Smith, labor relations manager and assistant pension plan administrator. The $106 million pension plan terminated Franklin Templeton, which ran $10.6 million in active international value equities, for "lack of performance and poor customer service, Ms. Smith said. A spokeswoman at Franklin Templeton did not respond to a request for comment.
The current asset allocation is 60% equity and 40% fixed income. Portfolio Analytics advised.