South Carolina Budget and Control Board, Columbia, terminated Peachtree Asset Management, which ran $179 million in active domestic large-cap growth equities, due to performance, said Michael Sponhour, spokesman for the $20 billion South Carolina Retirement System. The funds will be split evenly between existing large-cap growth managers Montag & Caldwell and Alliance Capital. "We were looking for better performance, and we had concerns about the company’s structure,” Mr. Sponhour said.
Mary Athridge, spokeswoman for Peachtree parent Citigroup, acknowledged the termination but would not comment further.
