Adams County Retirement Plan, Brighton, Colo., terminated Aberdeen Asset Management as an active emerging markets equity manager because of performance of the asset class, said Pamela Mathisen, executive director of the $221 million pension fund, in an e-mail.
The pension fund had $11.4 million invested with Aberdeen as of Sept. 30. The assets will be reallocated to existing international equity managers Dimensional Fund Advisors and Capital Group. Dimensional and Capital Group each managed $16.6 million for the pension fund as of Sept.30.
There are no plans for an emerging markets equity manager search.
An Aberdeen spokeswoman could not immediately be reached for comment.