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Pension Funds

Tulare County Employees keeps Ivy Investments, will re-evaluate in 6 months

Tulare County Employees' Retirement Association, Visalia, Calif., will keep Ivy Investments as its active domestic large-cap growth equities manager, running about $61 million, said David J. Kehler, retirement administrator, in an email.

The $1.3 billion pension fund launched a search in May after placing the manager on watch due to the recent departure of its large-cap growth portfolio manager, Daniel Becker.

Mr. Kehler said the board at its Aug. 22 meeting decided to retain Ivy and re-evaluate the manager in six months.

As of March 31, the allocation to domestic equities was 22.2%.

Investment consultant Verus Advisory assisted.