State of Wisconsin Investment Board, Madison, placed Citigroup Asset Management and Aberdeen Asset Management on watch because of organizational issues, according to an internal report. Aberdeen manages $489 million in global fixed income and $167 million in emerging markets debt for the $78.6 billion system. The money had been managed by Deutsche Asset Management; Aberdeen acquired DeAM's bond unit last year. Citigroup Asset, which runs $389 million in high-yield global fixed income for the fund, was acquired by Legg Mason last year. No additional money will be assigned for the portfolios while the firms are under review, the report noted.
The investment committee plans to follow up on Citigroup in March and on Aberdeen in June.