Indiana Public Employees' Retirement Fund, Indianapolis, terminated Brown Capital Management, which ran $225 million in active domestic smid-cap growth equities, for performance, said Bruce Fink, CIO of the $12 billion fund. The money was allocated to other domestic equity managers; Mr. Fink declined to provide further information. A spokeswoman for Eddie C. Brown, president of Brown Capital, said he was out of the country and officials at the firm would have no comment.
Mercer Investment Consulting assisted.
