Florida State Board of Administration has cancelled four core-plus fixed-income mandates, Pensions & Investments reports. Western Asset Management managed $2.68 billion, Goldman Sachs Asset Management ran $2.48 billion, Hartford Investment Management managed $2.17 billion, while Principal Global Advisors handled $2.07 billion.
The $154.7 billion board has transferred the assets to an internally managed Barclays Capital Aggregate index fund. The move is part of the restructuring plan the board adopted in 2010 to transfer more assets into internal passive management.
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