Frederick County (Md.) Employees Retirement Plan may hire Smith Breeden to run $35 million in active domestic core fixed income, pending adoption of the plans investment committee recommendation, said Don Lybrook of BOD Investment Consulting Group. Previous manager Northern Trust was terminated for performance reasons, Mr. Lybrook said. Trustees for the $85 million plan will meet later this month to decide on the committees recommendations, said Tracy Lobuts, assistant director of personnel.
Chris Harmon, spokeswoman at Northern Trust, did not return a call seeking comment by press time.