Santa Barbara ERS Terminates Small Cap Manager

The Santa Barbara County Employees Retirement System has terminated the Rice Hall James Small Cap Equity Strategy, according to minutes from the January 24th board meeting.

The termination was a result of a review of the U.S. Equity portfolio. RVK Recommended consolidating from two active style specific small cap managers to one active core small cap manager.

The recommended portfolio would include 90% allocated between two passive strategies, BNY Mellon EDI and BNY Mellon R1000 Index-NL, and 10% allocated to DFA Small Cap Core.

The value of the Rice Hall James account, approximately $69 million, will be reallocated to the DFA U.S. Small Cap Portfolio.

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