Delaware Public Employees' Retirement System, Dover, terminated active domestic long-term corporate fixed-income manager Loomis Sayles & Co. from a $407 million portfolio.
The $11 billion pension fund's board approved the termination of the manager at its Jan. 31 meeting, recently released minutes show. A reason for the termination was not provided.
The board also approved reducing a U.S. Treasury inflation-protected securities portfolio managed by Mellon Investments by $75 million and a floating-rate fixed-income portfolio managed by T. Rowe Price Group.
All assets were reallocated to an existing passive domestic fixed-income portfolio managed by BlackRock. The current amounts of the portfolios could not be immediately learned.
Joanna Adams, pension administrator, referred questions to spokesman Bert Scoglietti, who could not be immediately reached to provide further information.
