Tucson (Ariz.) Supplemental Retirement System hired T. Rowe Price to run $50 million in active domestic large-cap growth equities, confirmed Allan Bentkowski, investment manager of the $550 million system.
Funding comes from the termination of Friess Associates from a similar portfolio because of performance, according to Mr. Bentkowski. A phone call for comment to Gordon Kaiser, client relationship manager at Friess, was not returned by press time.
The system's investment consultant, Hewitt EnnisKnupp, had conducted a shortlist search; the other finalists were Westfield Capital Management and Winslow Capital Management.
The transition to T. Rowe Price is expected to be completed by Feb. 1.