Mississippi axes Longview from global equity portfolio
Getty Images
Mississippi Public Employees Retirement System, Jackson, terminated Longview Partners as one of its four global equity managers.
The $29.9 billion pension plan approved the termination at a board meeting on Dec. 15, a spokeswoman said in an email.
Longview, which was put on watch in October, was terminated due to a combination of investment team and executive team changes as well as performance, she said.
As of Sept. 30, Longview managed $756 million, or 20.8% of the pension fund s $3.6 billion total global equity allocation. The assets managed by Longview will be moved into the Northern Trust Global Index Fund, managed by Northern Trust Asset Management,the spokeswoman said. It wasn t known whether the pension fund would look for another global equity manager as a result of the termination.