(Bloomberg) — The Illinois Municipal Retirement Fund is pulling about $1.1 billion from BMO Global Asset Management due to poor performance.The pension fund is terminating a portfolio of U.S. large cap value stocks managed by BMO and plans to oversee the money internally, according to a statement issued on Monday.BMO was listed in an Oct. 31 report by the IMRF as among the five worst-performing portfolios versus benchmarks. The firm was also on the pension’s performance manager monitoring list.“Both performance and the opportunity to save fees by managing the money internally were factors,” John Krupa, a spokesman for the Oak …read more
Source:: Yahoo Finance
