Ohio State Teachers’ Retirement System, Columbus, terminated Fuller & Thaler Asset Management from a $107 million active domestic microcap equity portfolio.
The $97.3 billion pension fund’s investment staff terminated the manager during September, said Matthew Worley, chief investment officer, at its Oct. 16 investment committee meeting, as shown in a webcast.
Worley said the portfolio “wasn’t performing the way we expected.” Assets from the termination were reallocated to liquidity reserves, he said.
Ed Stubbins, partner at Fuller & Thaler, could not be immediately reached for comment.
As of June 30, the actual allocation to domestic equities was 26.1%; the target is 26%.
