Indiana State Teachers' Retirement Fund, Indianapolis, placed Alliance Capital on "alert" over market-timing allegations against the firm, said Robert D. Newland, CIO. Alliance manages $1.5 billion in active domestic fixed income and $400 million in an MSCI EAFE index fund for the state teachers' $3.3 billion defined benefit plan and $2.7 billion 401(a) plan, he said.
"While it hasn't affected us directly, we let the manager know we are monitoring it for possible action," he said. No deadline for action has been set.
John Meyers, Alliance spokesman, said the firm would not comment.