Memphis (Tenn.) City Retirement System is considering replacing Transamerica Investment Management, said Charles Williamson, city finance director. The $2 billion fund will likely make a decision in the next 30 to 60 days. The manager, which runs roughly $125 million in active domestic large-cap equities for the fund, has been under review for organizational reasons since earlier this year because the investment team left, according to Mr. Williamson. Four equity portfolio managers moved to Delaware Investments from Transamerica earlier this year.
Plan officials are discussing the matter with consultant Wilshire Associates.