etLife's State Street Research
unit is exiting the international arena as a part of an effort to focus on its core areas of expertise. In the past 12 months the Boston-based firm has cut both jobs and business lines, including its full-service 401(k) and managed account products, as a part of the effort.
The firm also brought in Kim Goodwin, a high-profile executive from American Century, to head up its investment management team.
In its latest move the firm is offloading $50 million of assets in its International Equity Fund to Lincoln, Massachusetts-based Quantitative Investment Advisors
. SSRM is also letting go of the fund's current portfolio managers Eleanor Marsh and Miren Etchenverry. The pair had also managed the SSRM Concentrated International Fund until that fund was liquidated earlier this year.
The decision to cease managing international portfolios will also put roughly $74 million of institutional assets into play, according to the firm.
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