Georgia Peace Officers' Annuity and Benefit Fund, Griffin, terminated Wells Fargo Asset Management from a $15 million active domestic large-cap blend equity portfolio.
The $880 million pension fund's board on Dec. 3 approved the termination of the firm as part of an ongoing reallocation process, said Robert W. Carter, secretary-treasurer.
He said performance was not a concern.
Assets were reallocated evenly between active domestic large-cap growth equity manager Congress Asset Management and active domestic large-cap value equity Sawgrass Asset Management.
Mr. Carter could not provide further information on the managers' portfolio sizes or the overall domestic equity allocation.
Investment consultant Callan assisted.
