University System of New Hampshire, Concord, terminated Mondrian Investment Partners from its $5 million global fixed-income portfolio in the system's $438 million combined endowment pool, said Erik Gross, associate treasurer.
The firm was terminated for performance, Mr. Gross said. Mondrian's assets were added to Franklin Templeton's global fixed-income portfolio, giving the manager a total of $17 million.
The endowment pool has an actual allocation of 7.9% to global fixed income, or $35 million.
Paul M. Ross, president of Mondrian Investment Partners (U.S.), could not be reached by press time.
Investment consultant Prime, Buchholz & Associates assisted.