Houston Municipal Employees Pension System terminated Profit Investment Management as a domestic equity manager, spokesman Peter Koops said in an e-mail.
The $2.5 billion pension fund had $39 million invested in the strategy. Further information on the U.S. equity strategy could not be learned.
Mr. Koops did not provide a reason for the termination nor information on where the funds will be transferred.
A spokeswoman for Profit Investment Management could not immediately be reached for comment.
The pension fund had a 15.1% allocation to domestic equity as of Sept. 30, according to Pensions & Investments data.
