Watertown (Mass.) Contributory Retirement System terminated Cutler, which managed $3 million in active domestic core fixed income, said a managing analyst at consultant Wainwright Investment Counsel. The $55 million pension plan terminated Cutler because of personnel changes, said the analyst, who declined to be identified. The assets were moved to a passive State Street Global Advisors fixed-income fund benchmarked to the Lehman Aggregate index.
The plan's asset allocation is 60% equity, 28% fixed income and 12% alternatives.
