Connecticut Retirement Plans and Trust Funds, Hartford, terminated active domestic small-cap to midcap equity portfolios run by Alliance Capital Management and Dresdner RCM Global Investors due to performance and staff turnover, said Bernard Kavaler, spokesman for the $19 billion pension fund. Alliance managed $135 million; Dresdner, $206 million. The money was shifted to a State Street Global Advisors S&P 500 index fund until the investment staff determines where it should be invested.
Dawn Vroegop, Dresdner RCM spokeswoman, said, "We understand and respect their decision. We hope to work with them again in the future.” Calls to Alliance seeking comment were not returned by press time.
