This content is from: Corner Office

Illinois Surs Terminates EQ Fund Manager

The Illinois State Universities Retirement System, Champaign, has dropped its equity fund manager Payden & Rygel.

The Illinois State Universities Retirement System (Illinois Surs), Champaign, has dropped its equity fund manager Payden & Rygel, Pensions & Investments reports. The California-based global independent investment manager ran the system’s $162 million in active global core equities. The move comes as part of a restructuring of Sur’s global managers’ allocations to equalize their weightings.

The $12.5 billion system aims to reallocate the proceeds among remaining global equity managers. Surs also changed the mandate of Mondrian Investment Partners to active-value global equities. Previously, Mondrian ran $212 million in international equities.

Click here for the story from Pensions & Investments.

Related Content