Charlottesville (Va.) Retirement Fund named Independence Investments, Renaissance Investment Management and Trusco Capital Management as finalists in its search for a manager to run about $2.7 million in active domestic small-cap growth equities, said Gregory A. McNeillie, senior vice president at plan consultant Dahab Associates. The $70 million pension fund will replace existing manager Constitution Research & Management, which has underperformed its Russell 2000 Growth index benchmark over the last couple of years, Mr. McNeillie said. The firms will make final presentations in March, Mr. McNeillie said.
Jennifer Brown, city treasurer, referred questions to Mr. McNeillie. Richard M. Drury, partner at Constitution Research & Management, did not return a call by press time seeking comment.