The Illinois Teachers' Retirement System, Springfield, today terminated MFS, which ran $664 million in active domestic large-cap growth equities, for performance and ongoing securities trading litigation, according to a statement from the $30 billion plan. MFS had been on watch. David Oliveri, an MFS spokesman, declined comment.
Assets will be placed temporarily in S&P 500 index funds run by State Street Global Advisors while a search proceeds for a replacement firm to run a similar portfolio. Plan consultant Callan Associates is assisting.