Mississippi Public Employees' Retirement System, Jackson, terminated Longview Partners as one of its four global equity managers.
The $29.9 billion pension plan approved the termination at a board meeting on Dec. 15, a spokeswoman said in an email.
Longview, which was put on watch in October, was terminated due to a combination of investment team and executive team changes as well as performance, she said.
As of Sept. 30, Longview managed $756 million, or 20.8% of the pension fund's $3.6 billion total global equity allocation. The assets managed by Longview will be moved into the Northern Trust Global Index Fund, managed by Northern Trust Asset Management,the spokeswoman said. It wasn't known whether the pension fund would look for another global equity manager as a result of the termination.
Longview did not respond to an email seeking comment.
The system's three other global equity managers are Acadian Asset Management, Epoch Investments and Harding Loevner.
