Ohio Public Employees Retirement System , Columbus, terminated Capital...

Ohio Public Employees Retirement System, Columbus, terminated Capital Guardian Trust, which ran $195 million in active domestic small-cap growth equities, for performance reasons. Phil Paroian, assistant investment officer at the $64.5 billion system, said CapGuardian had been on watch for more than a year for underperformance. The money was given to an existing manager handling a passive domestic equity portfolio that Mr. Paroian declined to identify, and plan officials have not yet decided whether to search for a replacement in small-cap growth. In the first quarter, Cap Guardian's small-cap fund returned -5.36%, while the Russell 2000 index returned -5.34%, according to Morningstar. Charles Freadhoff, spokesman for CapGuardian's parent, the Capital Group Cos., did not return calls by press time.