West Virginia Investment Management Board, Charleston, hired INTECH to manage about $460 million in enhanced indexed equities, said H. Craig Slaughter, executive director. The fund has now shifted its entire $1.3 billion domestic large-cap equity portfolio to enhanced indexing. The board, which manages $6.2 billion in state pension and workmen's compensation assets, terminated Alliance Capital, which ran $230 million in a growth style, and Chartwell, which ran $230 million in value. State Street Global Advisors is the other enhanced index equity manager.
"We decided to convert our large-cap (portfolio) to more of a quantitative approach," Mr. Slaughter said.