Connecticut Retirement Plans and Trust Funds, Hartford, placed a second portfolio run by BlackRock on watch, pushing the amount of BlackRock-managed investments on the $22.8 billion system’s watchlist to $1.48 billion.
BlackRock’s enhanced S&P 500 mandate, with a value of $816 million as of July 31, was placed on watch “due to performance concerns, modifications in the investment process and changes within the organization,” state Treasurer Denise Nappier wrote in an e-mail response to questions.
BlackRock’s core fixed-income mandate, at $668 million as of July 31, remains on watch because of “organizational changes and changes in the investment process,” Ms. Nappier wrote. She didn’t provide additional information. That portfolio was originally placed on watch in March 2010.
Ms. Nappier, the principal fiduciary of the funds, didn’t offer additional comment.
Lauren Trengrove, a spokeswoman for BlackRock, said in an interview that “as a matter of firm policy, we do not comment on client activity.”