Idaho Public Employee Retirement System, Boise, terminated T. Rowe Price as manager of $330 million in international equities, confirmed Robert Maynard, CIO of the $11.5 billion system. The termination was made because of major changes at the portfolio manager level, he said. The money will be moved to two existing index funds run by Mellon Capital: a Russell 3000 index fund, with $1.7 billion in assets, and an EAFE index fund, with $459.1 million. There are no plans to search for a new manager.
The T. Rowe Price Small Cap Stock fund remains an option in the systems $274 million 401(k) plan.