The board of the Orange County Employees Retirement System, Santa Ana, Calif., will consider on Nov. 23 whether to terminate Capital Guardian's $98 million active domestic large-cap value equity allocation and transfer the assets to BGI's Russell 1000 index fund, according to meeting agenda documents.
BGI currently manages $688 million in the Russell 1000 index fund.
The board of the $7.4 billion pension fund also will consider terminating Aberdeen Asset Management, which manages a $307 million active domestic fixed-income portfolio. The assets would be transferred to three other domestic fixed-income managers — PIMCO, Loomis Sayles and BGI. PIMCO currently manages $508 million in its Total Return fund, Loomis Sayles runs $287 million and BGI manages $439 million in its U.S. Debt Index fund.
The board also will consider revising its domestic fixed-income structure. No details were available by press time.
The board also will consider whether to commit $75 million to Abbott Capital Private Equity Investors 2010 LP, And whether to approve BGI, BNY ConvergEx Group, Goldman Sachs Asset Management, JPMorgan and State Street members of a transition management pool.