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Pension Funds

Illinois State Universities terminates Channing Capital strategy

Illinois State Universities Retirement System, Champaign, terminated Channing Capital Management as a domestic midcap value equity manager.

The allocation, totaling approximately $100 million, is being moved to passive domestic equity manager RhumbLine Advisers, which currently manages $873 million for SURS, said a recent announcement on the pension fund's website.

The reason for Channing's termination was not provided.

Channing will continue to manage approximately $96 million in an existing domestic smidcap value equity strategy, a release said.

A spokeswoman for the $19.2 billion pension fund could not immediately be reached for additional information.