Institutional Investors

San Diego halts equity market-neutral search

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The $3.7 billion City of San Diego Employees' Retirement Association has temporarily put its equity market-neutral search on hold until the completion of the pension fund's manager structure review.

The search originally sought to hire two equity market neutral managers to split a $250 million mandate equally. San Diego staffers heard presentations from six market neutral managers at Callan Associates offices in San Francisco and performed due diligence visits to four managers.

Meanwhile, investment staff have recommended the termination of SSI Investment Management for the equity market-neutral strategy due to poor performance. SSI has