Illinois State Board of Investment, Chicago, terminated Amalgamated Bank, which ran $333 million in an enhanced S&P 500 index fund, said William R. Atwood, executive director of the $11.2 billion system.
The board moved the assets to an existing S&P 500 index fund managed by RhumbLine Advisers, raising its assignment to $670 million, to consolidate the allocation, he said.
Consultant Marquette Associates assisted.
