Alfred I. duPont Testamentary Trust & the Nemours Foundation, Jacksonville, Fla., is searching for an emerging markets equity manager to run $45 million. The $2.7 billion trust is screening prospective candidates, using the Callan database. The fund prefers to work off its own screen for candidates.
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. Its not really performance related.
Mr. Schick said the search could be completely by the end of March.