Alfred I. duPont Testamentary Trust & the Nemours Foundation, Jacksonville, Fla., is conducting a search for an emerging markets equity manager to run $45 million. The $2.7 billion trust is screening prospective candidates, using the Callan database. Funding will come from terminating Nicholas-Applegate, which ran a similar portfolio, because of organizational changes. "That is one of our hot-button issues: organization,” said Timothy Schick, senior investment analyst. "There were major departures. We were uncomfortable with that. It’s not really performance-related.”
Mr. Schick said the search could be completed by the end of March.
