Florida State Board of Administration, Tallahassee, removed from watch two Pyramis Global Advisors portfolios, totaling $1.5 billion, said Dennis D. MacKee, FSBA director of communications.
Pyramis was placed on watch in 2013 for organizational issues for a now $1.14 billion enhanced international developed all-cap equity portfolio tracking the MSCI World ex-U.S. index customized for Iran and Sudan exclusions, and a now $384 million active international developed small-cap equity portfolio.
FSBA resolved concerns it had about organizational changes, including a restructuring of the portfolio/analyst position. The lifting from watch was based on a recommendation by Mercer, an FSBA investment consultant.
FSBA oversees $182.6 billion.