Searches and Hires

Watertown keeps Wellington for U.S. small cap, Brandywine for global fixed income

Watertown (Mass.) Contributory Retirement System rehired Wellington Management to run approximately $4.5 million in an active U.S. small-cap equity.

The $183 million pension fund also rehired Brandywine Global Investment Management as an active global fixed-income manager to run $4 million to $5 million.

Fiduciary Investment Advisors, investment consultant to the plan, assisted with the searches.

The searches were conducted to comply with state procurement laws that require contracts to go out to bid every few years, said Richard A. Carey, associate research analyst at Fiduciary Investment Advisors.

The U.S. small-cap search was originally launched in February, while the global fixed-income search was initially conducted in April.