Florida State Board of Administration, Tallahassee, terminated Victory Capital Management, which ran $152 million in active international developed market small-cap growth equities, according to John Kuczwanski, communications manager.
The board, which oversees $156.8 billion, reallocated the money to its existing managers.
Victory had been on watch for performance, according to a report to the board by Wilshire Associates, the board’s consultant.
Christopher A. Ohmacht, Victory co-CEO, said: “We don’t comment on client actions.”
