SPECIAL REPORT: LARGEST FUNDS
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January 23, 1995 12:00 AM

SPECIAL REPORT: LARGEST FUNDS

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    Eastman Kodak Co.

    ($ millions)

    Total assets10,903

    Defined benefit7,122

    401(k)3,781

    Employer DB contributions0

    Benefit payments630

    Employer DC contributions175

    P&I estimate

    Internally managed assets:

    Defined contribution3,016

    Hedging devices used:

    Stock index futures

    Fixed-income futures

    Short selling

    Managed futures

    Defined benefit asset mix:

    Stocks64%

    Fixed income4%

    Cash equivalents2%

    Real estate equity11%

    Annuities2%

    Other17%

    Defined contribution asset mix:

    Company stock9%

    Other stock12

    GICs/BICs79%

    ROCHESTER, N.Y. - As of Sept. 30, Eastman Kodak Co.'s total employee benefit assets are estimated to be $10.903 billion, based on company data as of Dec. 31, 1993. Defined benefit assets are estimated to be $7.122 billion and defined contribution assets, $3.781 billion.

    Defined benefit managers:

    Domestic equities: Acadian; Ardsley Partners; Baker Nye; Bel Advisors; Sanford C. Bernstein; Boston Co.; CIGNA; Evaluation Associates; Fidelity; First Pacific Advisors; First Quadrant; John Hancock; Lazard Freres; Neuberger & Berman; Nicholas-Applegate; Rosenberg Institutional; Tiger Management; TCW; Value Line; WRM Equity; Wyser-Pratte Management.

    International equities: Emerging Markets Management; Templeton Worldwide.

    Domestic fixed-income: The Boston Co.; The Bridgewater Associates.

    Real estate: Aetna; AEW; Alliance Capital; Cabot Partners; CB Commercial; Copley; GE Investments; Goldman Sachs; Hotels of Distinction Ventures; JMB; Karsten; Metropolitan Life; National Life; Phoenix Mutual Life; PMRealty; Prentiss Properties; PSI; RCB; RREEF; Schroder; T.A.; TCW.

    Venture capital: Advent International; Horsley/Bridge; Merrill Lynch Capital Partners; Patricof; Recovery Equity.

    Foreign exchange: Falcon Investment; FX Concepts.

    Timberland: MONY; Resource Investments.

    Oil & Gas: Canadian Gas Gatherings; First Reserve; J.P. Morgan Investment Management; UBS.

    Managed futures: Mount Lucas.

    Mortgage-backed securities: Smith Breeden.

    TAA: PanAgora Asset Management.

    LBOs: TCW.

    Defined contribution managers:

    Domestic equities: RogersCasey; Wells Fargo Nikko.

    International equities: Frank Russell.

    The master trustee is Mellon Bank; the global custodian is Mellon Bank; the investment consultant is RogersCasey.

    Hewitt Associates provides administrative and record-keeping services for the defined contribution plan.

    Key personnel overseeing the investment management of the fund are Jesse J. Greene Jr., treasurer; Russell L. Olson, director of pension investments worldwide; and Robert D. Spooner, pension investments manager. Overseeing the defined contribution plan are David E. Edwards, director-employee benefits, and Mr. Olson.

    The Church Pension Fund

    (Episcopal)

    ($ millions)

    Total assets2,568

    Defined benefit2,568

    from Money Market Directory

    Defined benefit asset mix:

    Stocks62%

    Fixed income18%

    Cash equivalents8%

    Real estate equity2%

    Mortgages7%

    Other3%

    NEW YORK - As of June 30, The Church Pension Fund (Episcopal)'s total employee benefit assets totaled $2.568 billion, according to information from the Money Market Directory.

    Key personnel overseeing the investment management of the fund are Alan F. Blanchard, president; the Right Rev. Frank S. Cerveny, executive vice president and manager; Helen Fox-O'Brien, vice president; and Richard Lewis, comptroller.

    Evangelical Lutheran Church

    in America Board

    of Pensions

    ($ millions)

    Total assets2,641

    401(b)2,641

    Employer DC contributions63

    Internally managed assets:

    Defined contribution1,154

    Defined contribution asset mix:

    Stock48

    Fixed income45.7%

    Cash equivalents1.8%

    Real assets0.7%

    Venture capital0.8%

    High yield2.3%

    Tactical asset allocation0.7%

    MINNEAPOLIS - As of Sept. 30, The Evangelical Lutheran Church in America Board of Pensions' total employee benefit assets decreased 0.6% from a year earlier. All assets are defined contribution.

    Defined contribution managers:

    Domestic equities: Alliance Capital; J.P. Morgan; RCM; Rosenberg; Wells Fargo.

    International equities: Acadian; Schroder; UBS.

    Domestic fixed-income: BlackRock Financial.

    International fixed-income: J.P. Morgan.

    Real estate: Cohen & Steers.

    TAA: J.P. Morgan, QuantiLogic.

    The master trustee and global custodian is Boston Safe & Deposit Trust; the investment consultant is Wilshire.

    Key personnel overseeing the investment management of the fund are John Kapanke, president, and David Lelander, senior investment manager.

    Exxon Corp.

    ($ millions)

    Total assets8,965

    Defined benefit3,199

    Total defined contribution5,766

    401(k)1,025

    Thrift/savings3,705

    ESOP1,036

    Employer DB contributions78

    Benefit payments420

    Employer DC contributions128

    Internally managed assets:

    Defined benefit666

    Defined contribution5,388

    Hedging devices used:

    Stock options

    Stock index futures

    Fixed-income futures

    Defined benefit asset mix:

    Stocks66%

    Fixed income26%

    Real estate equity4%

    Other4%

    Defined contribution asset mix:

    Company stock46%

    Other stock7%

    Fixed income47%

    IRVING, Texas - As of Sept. 30, Exxon Corp.'s total employee benefit assets decreased 6% from a year earlier. Defined benefit assets decreased 8% during the same period; defined contribution assets decreased 5%.

    The firm contributed $78 million to the defined benefit plan, up from no contribution a year earlier; benefits paid decreased 10%.

    Defined benefit managers:

    Domestic equities: Geometry Asset; Wells Fargo.

    International equities: Aeltus; Wells Fargo.

    Domestic fixed-income: J.P. Morgan; Prudential; Smith Barney; Wells Fargo.

    Real estate: Corporate Property Investors; JMB; Acacia.

    Venture capital: Hancock Venture; Horsley Bridge.

    Insured reserves: Equitable.

    Royalties: Premier; Texas Commerce.

    Defined contribution managers:

    Domestic equities: Wells Fargo.

    The master trustee and master custodian is The Bank of New York; the global custodians are Morgan Stanley and Wells Fargo.

    Key personnel overseeing the investment management of the fund are J.E. Bayne, manager, benefits finance and investment; and R. Scott Massengill, pension fund coordinator. Mr. Bayne and Brian Livingston, senior financial adviser, oversee the defined contribution plan.

    Federal Retirement Thrift

    Investment Board

    ($ millions)

    Total assets24,866

    Thrift/savings24,866

    Employer DC contributions1,432

    Internally managed assets:

    Defined contribution17,445

    Defined contribution asset mix:

    Stock24%

    Fixed income6%

    Cash equivalents70%

    WASHINGTON - As of Sept. 30, the Federal Retirement Thrift Investment Board's total employee benefit assets increased 27.5% from a year earlier. All assets are defined contribution.

    Defined contribution managers:

    Domestic equities: Wells Fargo Nikko.

    Domestic fixed-income: Wells Fargo Nikko.

    The master trustees are Wells Fargo Institutional Trust and the U.S. Treasury.

    The National Finance Center provides record-keeping services for the defined contribution plan.

    Key personnel overseeing the investment management of the fund are Peter B. Mackey, director investments; Alison L. Doone, deputy director investments; and Patricia A. Snodgrass, senior financial analyst.

    Federal Express Corp.

    ($ millions)

    Total assets2,872

    Defined benefit1,892

    Total defined contribution980

    *Profit-sharing19

    *401(k)908

    *ESOP53

    Internally managed assets:

    Defined benefit9

    Hedging devices used:

    Stock options

    Managed futures

    Defined benefit asset mix:

    Stocks68.7%

    Fixed income25.2%

    Cash equivalents1%

    GICs/BICs2%

    Other3.1%

    Defined contribution asset mix:

    Other stock52.5%

    Fixed income10.5%

    Cash equivalents37%

    MEMPHIS, Tenn. - As of Sept. 30, Federal Express Corp.'s total employee benefit assets increased 15% from a year earlier. Defined benefit assets increased 11% during the same period; defined contribution assets increased 22.5%.

    Defined benefit managers:

    Domestic equities: Ashland; Barrow Hanley; Dreman; Hallmark; Miller Howard; Mitchell Group; New South; RCM; Wellington.

    International equities: Oechsle; PCM; RCB; Templeton; Warburg; WorldInvest;

    Domestic fixed-income: Kemper; Richmond.

    International fixed-income: WorldInvest

    Real estate managers: First Asset; Heitman; INVESCO.

    Defined contribution managers:

    Domestic equities: Vanguard.

    International equities: Vanguard.

    Domestic fixed-income: Vanguard.

    Northern Trust is master trustee and global custodian. Gerber/Taylor and Mercer are the investment consultants.

    Hewitt provides administrative and record-keeping services for the defined contribution plan.

    Key personnel overseeing the investment management of the fund are Bill Gurner, manager-trust investments, and Phil Schaefgen, senior financial analyst. Overseeing the defined contribution plans are Mr. Gurner; Loren Jensen, manager-retirement administration; and Mr. Schaefgen.

    Florida Power and Light

    Group

    ($ millions)

    Total assets2,460

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