Alaska Retirement Management Board, Juneau, terminated BlackRock from a $14 million passive domestic fixed-income portfolio.
The board approved the termination of the manager at its Dec. 12-13 meeting, said Stephanie Alexander, liaison officer, in an email.
The assets will be moved to the board's $3.2 billion internally managed domestic fixed-income portfolio. The termination was approved to simplify ARMB's manager structure, she said.
The board oversees the management of $33.6 billion in defined benefit and defined contribution plan assets, including the $19.1 billion Public Employees' Retirement System and $9.1 billion Teachers' Retirement System.
