The roughly $3.3 billion San Diego City Employees’ Retirement System (SDCERS) will seek out global fixed-income managers to possibly replace London, U.K.- based Rogge Global Partners.

At a September 30 meeting, the investment committee and Callan Associates discussed the underperformance of the firm. According to a memo distributed for the meeting, “Rogge has added little value on an after-fee basis above the Citigroup World Government Bond Index ex-U.S. Unhedged,” since being hired by SDCERS.

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