Los Angeles County Employees' Retirement Association, Pasadena, Calif., terminated Schroder Investment Management from a $295 million active Pacific Basin equity portfolio, said Juan M. Almaguer, principal investment officer for the $35 billion fund. Nik Ekholm, Schroder spokesman, did not return requests for comment by press time.
The money will be transferred to an EAFE index portfolio, now at $3.6 billion, run by Barclays Global Investors, he said. Association officials will review the fund's international equity strategy within the next few months and searches may follow, he said.
Fund officials also approved a $300 million activist corporate governance mandate and invited finalists Blum Capital Partners, Relational Investors and Shamrock Holdings to interview, Mr. Almaguer said. The RFP was issued in January.