Colorado Public Employees' Retirement Association, Denver, hired Barclays Global Investors to run $200 million in a Lehman Aggregate bond index fund. Officials at the $20.4 billion pension plan added the investment to get closer to its 25% fixed-income target allocation. The fund previously had 20% of assets allocated to fixed income, all actively managed. Funding came from cash.
The fund also terminated Bank of Ireland Asset Management, which ran 10% of the system's international equity portfolio, or $495 million; the entire international portfolio is actively managed. The decision was "related to concerns regarding investment performance and the recent departure of several members of the ... investment team," Katie Kaufmanis, system spokeswoman, said in a statement. The money has been parked in an index fund run by BGI.
Stephen Holland, spokesman for Bank of Ireland, did not return calls seeking comment.
Ennis Knupp assisted.