Illinois State Universities Retirement System has appointed Fiduciary Management Associates and EARNEST Partners as active domestic core equity managers, Pensions & Investments reports. Fiduciary Management will manage small caps, while EARNEST will handle midcaps. Each of the new managers will be awarded a $35 million mandate each. The funding will come from reducing the $1 billion Wilshire 5000 index fund of RhumbLine Advisers. The investment consultant to the $14.4 billion system, Callan Associates, assisted on the appointments.
Click here for the story from Pensions & Investments.
