The Louisiana State Employees Retirement System (LASERS) has terminated two of its domestic equity managers, IM Weekly reports. Smith Asset Management, which managed $90 million in small-cap growth, has been dropped due to the system’s concerns about its performance.
The $7.6 billion system has also ceased to use the services of Brandywine Asset Management, which managed $60 million in small-cap value, due to structural changes in the asset class. The contracts of both the firms were scheduled to expire in October 2010.
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