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Pension Funds

Orange County Employees puts 2 managers on watch

Orange County Employees Retirement System, Santa Ana, Calif., has placed BlueBay Asset Management and Mondrian Investment Partners on watch, confirmed Robert Kinsler, spokesman for the $15.7 billion pension fund.

The board decided to put the managers on watch at its Wednesday meeting for portfolio restructuring reasons. Performance is also a factor for BlueBay. A BlueBay spokeswoman declined to comment.

BlueBay manages $276.6 million in its emerging markets select bond fund for OCERS, while Mondrian runs $160.2 million in an international small-cap equity strategy for the pension fund.

OCERS' actual allocation to global public equity is 39.4% and to credit, 11.6%.