The Ohio Public Employees Retirement System terminated Oechsle International Advisors from a $250 million active EAFE portfolio for performance, said Michelle Kowalik, a fund spokeswoman. Of that money, $42 million will be divided among the fund's remaining international equity managers, and the remainder will be shifted to existing fixed-income managers to maintain the fund's asset allocation targets. The fund targets 20% of assets to non-U.S. equity and 23% to U.S. fixed income, Ms. Kowalik said. The plan's international equity managers include Acadian Asset Management, AllianceBernstein Institutional Investment Management, TT International and Lazard Asset Management. Its fixed-income managers includeSmith Associates and Capital Guardian Trust.
Requests for comment at Oechsle were directed to Steve Langer, a managing partner who serves as the firm's spokesman, who was traveling and unavailable for comment.