Cambridge (Mass.) Contributory Retirement System terminated Columbia Threadneedle Investments and MFS Investments from active domestic equity portfolios, recently released board meeting minutes said.
The $1.1 billion pension fund terminated Columbia from a $48 million small-cap portfolio and MFS from an $83 million large-cap value portfolio. The minutes did not provide reasons for the terminations.
Assets from the Columbia portfolio were moved to an active emerging markets equity portfolio managed by Aberdeen Asset Management, giving it a total of $103 million, while assets from the MFS portfolio were moved to a passive domestic large-cap value equity portfolio managed by RhumbLine Advisers, giving it $176 million.
Investment consultant Segal Rogerscasey assisted.
Ellen K. Philbin, executive director of the pension fund, could not be immediately reached to provide further information.