Baltimore County Employees’ Retirement System has terminated Institutional Capital for underperformance on its U.S. core equity separate account, said Robert Burros, investment administrator.
No one at Institutional Capital returned phone calls by deadline.
Mr. Burros said the $2 billion system transferred the $78 million managed by Institutional Capital to Barclays Global Investors’ passively managed U.S. equity separate account, which follows the Wilshire 5000 index. BGI now manages a total of $656 million for the system.
