TALLAHASSEE, Fla. — The Florida Department of Financial Services-Division of Treasury hired Sterling Capital Management, Dwight Asset Management, Financial Management Advisors and EARNEST Partners to run $50 million each in active domestic core fixed income, said Ken Gerzina, financial administrator of external investments. The portfolios are benchmarked to the Lehman Aggregate bond index.
The $17 billion division, which oversees the state's operating assets, terminated active domestic core fixed-income managers Trusco Capital Management, NCM Capital Management and PG Corbin Group for performance, Mr. Gerzina said. Trusco ran $150 million; NCM, $210 million; and PG Corbin, $65 million.
Maceo Sloan, NCM Capital chairman, chief executive officer and chief investment officer, declined to comment on the matter. Elizabeth Wilson, Trusco managing director, said the firm could not comment on client matters. Carmen Marshall, PG Corbin vice president, did not return calls seeking comment by press time.