Delaware Public Employees' Retirement System, Dover, terminated T. Rowe Price Group from a $124 million high-yield portfolio.
The $14.1 billion pension fund's investment committee approved the termination at its Sept. 14 meeting, recently released meeting minutes show.
The minutes did not provide a reason for the termination. The investment committee approved reallocating the assets to two index funds managed by BlackRock.
About $87 million will be reallocated to a passive Treasury inflation-protected securities fund and $37 million to an S&P 600 index fund, the minutes show. The minutes did not specify whether these were existing portfolios in the pension fund.
Joanna Adams, pension administrator, could not immediately provide further information.
