San Francisco City & County Employees' Retirement System terminated Artio Global Investors and Western Asset Management Co., which ran a combined $620 million, for performance reasons, confirmed Robert Shaw, managing director, public markets, at the $14.7 billion system.
Artio ran $310 million in active international equities; along with performance, the manager was terminated for personnel changes, Mr. Shaw said in a telephone interview. Assets will be transitioned into an EAFE index fund.
Artio still manages domestic fixed income for the system, according to Mr. Shaw.
Further information about the EAFE index fund and the amount Artio still manages wasn't available by press time.
Neil Shapiro, Artio spokesman, wrote in an e-mail that it is company policy not to comment on clients' actions.
Western Asset handled $310 million in unconstrained total return fixed income. The majority of the assets will be added to a BlackRock Aggregate Bond index fund, currently worth about $100 million. Staff will evaluate how to allocate the assets long term, Mr. Shaw said.
Mary Athridge, spokeswoman for WAMCO, did not return a phone call for comment by press time.
Separately, the system committed up to $20 million each to Thoma Bravo X and Bain Capital Venture Fund 2012. The commitments are the system's first to either firm, according to Mr. Shaw.
