The $19 billion Los Angeles County Employees' Retirement Association narrowed its search for a cash manager to three candidates: Western Asset Management; Scudder Stevens & Clark; and UBS Asset Management. About $1 billion will be allocated. The money will come from current cash manager Bankers Trust, which along with eight others didn't make the finalist list. Selection is expected to be made in mid-June. The search is being done primarily in-house, with the assistance of Frank Russell.