Washington State Investment Board, Olympia, within the next month will search for an active emerging markets equity manager to replace F&C Asset Management, said Liz Mendizabal, spokeswoman for the $62.9 billion system. F&C, which ran a $100 million portfolio, is being terminated for performance. Ms. Mendizabal had no further details. Calls to William Boardman, spokesman for F&C, were not returned by press time.
Separately, the board chose Barclays Global Investors, State Street Global Advisors and Western Asset Management as its domestic equity enhanced index managers, subject to final negotiations, Ms. Mendizabal said. It is a new allocation, and size of the portfolios has not been determined.