New Orleans Employees' Retirement System terminated a $22 million active domestic large-cap core equity portfolio run by Rorer Asset Management because of concerns about the performance of both the manager and the asset class, said Jerry Davis, chairman. Rorer officials did not return a call seeking comment by press time. The $350 million plan also cut $11 million from an active domestic small-cap growth equity portfolio run by Delaware Investment Advisers because of concerns about the long-term performance of the asset class, he said. Delaware now runs about $10 million for the fund. The money from both portfolios was moved to an internally managed $33 million S&P 500 ETF, Mr. Davis said.