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Lasers Terminates Wells Capital Contract

The $9.3 billion Louisiana State Employees’ Retirement System, Baton Rouge, has dismissed investment advisory firm Wells Capital Management.

The $9.3 billion Louisiana State Employees’ Retirement System (Lasers), Baton Rouge, has dismissed investment advisory firm Wells Capital Management, Pensions & Investments reports. Wells Capital was handling $220 million in active domestic large-cap growth equities for the system.

The retirement system shifted the capital into an internally-run S&P 500 index fund as part of a revamp of the domestic large cap equity area after an asset class re-evaluation. NEPC, an independent investment consulting firm, helped in this process.

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