Santa Barbara County (Calif.) Employees' Retirement System placed Copper Rock Capital Partners on watch for the $36 million active international small-cap equity portfolio it runs for the $2.9 billion pension fund.
SBCERS' board at its Thursday meeting voted to place the manager on watch for continuing underperformance, said Lauren Thompson, assistant CEO, in an email.
The pension fund originally hired Copper Rock for the portfolio in 2012.
As of March 31, the pension fund's actual allocation to international developed markets equities was 9.8%; the target is 11%.
Investment consultant RVK assisted.
Lidney Motch, partner, director of client service and marketing, at Copper Rock Capital Partners, could not be immediately reached for comment.
