Miami Beach (Fla.) Employees’ Retirement Plan terminated WHV Investment Management from an active emerging markets equity portfolio of about $12 million, confirmed Rick Rivera, pension administrator.
The $452 million pension fund terminated the firm for performance and has moved assets to a passive international equity portfolio managed by RhumbLine Advisers, giving that manager about $35 million.
WHV Investment Management still manages a $41 million active international equity portfolio for the pension fund.
Jane Ingalls, WHV spokeswoman, said the firm would not provide comment at this time.
