ABBOTT PARK, Ill. - Abbott Laboratories hired Putnam Investments to provide bundled services for its $2.5 billion 401(k) plan. Putnam will provide record-keeping, trust, administrative and employee education services, as well as three Putnam funds. Two existing options that had been internally managed -company stock and a managed GIC pooled fund - will be handled by Putnam.
Frank Loughery, assistant corporate controller, said record keeping and investment management had been handled internally.
CONWAY, Ark. - Acxiom Corp. hired T. Rowe Price to provide fully bundled 401(k) services for its $12 million plan, confirmed Libbi Whitehurst, team leader for the corporate human resources group.
Acxiom chose seven investment options from T. Rowe Price. Three mirrored the options it had with the previous bundled service provider, which she declined to name.
ALBANY, Ga. - The $58 million Albany Employees' Pension Fund nearly doubled INVESCO's domestic equity assignment by dropping another manager, said H. Nelson Rushton III, director-finance and chairman of the pension board.
He declined to identify the manager whose $7 million in domestic equity assets were turned over to INVESCO. The move raised INVESCO's assignment to $15 million. Robinson Humphrey assisted in the change.
He said the move doesn't affect the fund's other remaining managers: Calamos Asset Management, GLOBALT and Murray Johnstone International.
ALBANY, N.Y. - The $70 million Albany International Corp. defined benefit pension fund hired three domestic equity managers, said Raymond D. Dufresne, vice president and treasurer. Trinity Investment Management was assigned $5 million. The amounts of the assignments for the other two manager - Scudder Stevens & Clark and W.P. Stewart - haven't been decided yet.
The three managers, which all have a value orientation, will be funded over the next few months from new contributions.
The company also added its first synthetic guaranteed investment contract to its $106 million 401(k) fund, hiring Sanford C. Bernstein to manage the underlying fixed-income portfolio and J.P. Morgan Bank to provide the insurance wrapper, said Mr. Dufresne.
The company added the synthetic GIC to its stable value fund, which has eight traditional GICs, totaling $56 million, or 53%, of the assets of the employee-directed 401(k) fund.
American Skandia Life
SHELTON, Conn. - American Skandia Life Assurance Corp. selected four new mutual funds for its Galaxy Variable Annuity, offered in conjunction with Fleet Financial Group. The funds are: international stocks from T. Rowe Price; international bonds from Scudder; and domestic stocks from Berger Associates and INVESCO.
Archdiocese of Los Angeles
LOS ANGELES - Making its first move to international equities, the Archdiocese of Los Angeles, which has $300 million in endowment, pension and other trust funds, hired Capital Guardian Trust, said Jose Debasa, chief financial officer.
The archdiocese assigned the new manager $30 million, placing $27 million in EAFE-type markets and $3 million in emerging markets.
Asset Strategy Consulting assisted in the search.
Funding came from cash flow and reallocating among managers.
Art Institute of Chicago
CHICAGO - The $245 million Art Institute of Chicago endowment fund hired Loomis Sayles as a balanced manager, said Robert E. Mars, executive vice president. The firm was assigned $65 million. Funding came from reducing the balanced portfolio of Kemper Asset Management, which retains $14 million.
William T. Kennedy & Associates assisted in the search.
CAMBRIDGE, Mass. - The $190 million Cambridge Retirement System hired Income Research & Management to manage $34.5 million in bonds. The money had been temporarily moved to Freedom Capital from Capital House Investment Management following the departure last summer of Capital House's fixed-income chief Mary Jane Cullinan.
Lawrence Marino of Segal Advisors assisted in the search.
POTSDAM, N.Y. - The $70 million Clarkson University endowment fund hired Target Investors to manage $5 million in mid- and small-capitalization equities, said Bruce T.H. Knill, senior vice president-business and financial affairs and treasurer.
Funding came from dropping another manager he declined to name.
Smith Barney assisted in the search.
OMAHA, Neb. - ConAgra Inc. hired Putnam Institutional Management to run a $6 million core equity portfolio for the $43 million Banquet Union Employees' Pension Fund, said Lynn C. Burlingham, benefits manager. Asset Consulting Group assisted.
Ms. Burlingham said funding for the change came from dismissing another equity manager, which she declined to name.
ELKHART, Ind. - The $61 million defined contribution plan for CTS Corp. hired Twentieth Century Services for record-keeping and investment services, said Gary Hoipkemier, treasurer. Twentieth Century was selected primarily because of its bundled approach, said Mr. Hoipkemier. Hewitt Associates formerly provided record-keeping services.
The plan added four Twentieth Century funds to its existing four mutual funds and company stock.
District of Columbia
WASHINGTON - The $2.5 billion District of Columbia Retirement Board added three managers to its farm team, said Executive Director Jeanna Cullins.
Sturdivant & Co. and Kenwood Group each will manage $15 million in domestic equity; LM Capital Management will manage $15 million in domestic fixed income. The new managers will replace Greaves Capital Management and Taplin, Canida & Habacht, which graduated from the program last October.
MIDLAND, Mich. - The $400 million pension plan at Dow Corning Corp., hired Dodge & Cox to run a $25 million fixed-income portfolio and MacKay-Shields for a $50 million growth equity portfolio, according to a Dow spokesman. The Dow spokesman said funding was from a terminated growth stock manager, which he declined to identify, and from an internally managed fixed-income portfolio.
CHANTILLY, Va. - Making its first such move, the $70 million Fairchild Corp. defined benefit fund hired Montgomery Asset Management for emerging markets equities, said Robert H. Kelly, vice president-employee benefits.
It assigned the firm $1.5 million, funding the allocation from unallocated cash. Stratford Advisory Group assisted.
The fund also tilted its domestic equity allocation more to large-cap growth stocks from small- and midcap value stocks. Fairchild increased by $3.5 million the allocation to a Jennison Associates Capital large-cap growth fund. The amount Jennison runs wasn't immediately available. Funding for the move came from reducing the allocations to four funds - a Gabelli Funds midcap value fund, a Brandywine small-cap growth fund, and Pacific Financial Asset Management Corp.'s small-cap value fund and midcap growth fund. All four were retained.
FRANKENMUTH, Mich. - Frankenmuth Mutual Insurance Co. hired Asset Strategies Portfolio Services to assist with a review and revamp of the company's $12 million 401(k) plan. The plan will move from in-house record keeping to an outsourced arrangement, said Allen C. Luther, treasurer. Still to be decided are whether the new plan design is bundled or unbundled and how many investment options will be offered, Mr. Luther said.
Asset Strategies will conduct both investment manager and record keeper searches for the fund. The plan is unbundled, using four mutual funds from three vendors, which Mr. Luther did not identify. The new plan is expected to be implemented Jan. 1.
Gerber Cos. Foundation
FREMONT, Mich. - Making its first move to diversification, the $60 million Gerber Cos. Foundation hired six managers, said Richard E. Dunning, vice president-treasurer.
It assigned Burridge Group $10.1 million for domestic midcap growth equities.
According to Richard S. Norton, vice president-private client group at Merrill Lynch, the foundation's consultant, the other five managers and their assignments are: William Blair for $12 million in domestic intermediate fixed income; Pacific Investment Management for $12 million in domestic long-term fixed income; MacKay-Shields for $10.1 million in domestic value equities; MFS Asset Management for $5.9 million in domestic emerging growth equities; and Templeton Worldwide for $5.9 million in international equities.
In addition, the foundation has $3 million total in a money market fund and cash equivalents, which will be used to pay its grant commitments for this year.
Funding for the changes came from the sale of Gerber stock, the foundation's primary asset, as a result of the acquisition of Gerber Products Co. by Sandoz AG, the Swiss pharmaceutical company.
Merrill Lynch assisted in the searches and in developing asset allocation studies and recommendations and investment policies.
PHILADELPHIA - Glenmede Trust named Pictet Investment Management a subadviser of its new emerging markets mutual fund.
The hiring re-establishes a relationship between the two firms in which Pictet ran international money for clients of Glenmede from 1982 to 1987. Glenmede began running the international money in-house in 1988, but for emerging markets, it chose to use Pictet's expertise once again, said Jack Church, chief investment officer and senior vice president of Glenmede, and president of the Glenmede Mutual Funds.
This is Glenmede's first emerging markets fund. It runs 11 other mutual funds, including three international funds, in-house.
CLINTON, N.Y. - The $185 million Hamilton College endowment hired Warburg Investment Management International for global fixed income, said Daniel J. O'Leary, vice president-administration and finance. He said the move would be the fund's first in the area. Further details were unavailable.
No consultant was used.
Houston Municipal Employees
HOUSTON - The $720 million Houston Municipal Employees Pension System hired Neumeier Investment Counsel to manage a $42 million small-cap equity portfolio, said David L. Long, executive director. Funding for the account is from reallocation of assets, he said. The other finalist for the placement was Investment Counselors of Maryland. Callan Associates assisted.
GRAND HAVEN, Mich. - JSJ Corp. chose Twentieth Century Services for record-keeping and investment services for its $22 million defined contribution plan, said James Huyge, risk manager with JSJ.
In addition to five Twentieth Century mutual fund choices, other options are Wells Fargo Nikko Investment Advisors' Equity Index and Bankers Trust's Capital Preservation Trust.
Investment services and record keeping formerly were provided by Travelers, said Mr. Huyge. Assets it managed for the plan were invested in GICs backed by bullet mortgages that came due May 1, Mr. Huyge said.
Telephone calls to a spokesman for Travelers were not returned.
LENEXA, Kan. - The $12 million defined contribution plan for LabOne Inc. selected Twentieth Century Services as record keeper, investment manager and trustee, said Randy Shelton, manager of payrolls and benefits.
Plan participants will have a choice of five Twentieth Century mutual funds and LabOne common stock.
Mr. Shelton said record keeping had been provided by Towers Perrin, and Commerce Bank formerly was the master trustee of the plan. He declined to name the former money managers.
Los Angeles County
PASADENA, Calif. - The $16.7 billion Los Angeles County Employees' Retirement Association has allocated $200 million to three of its existing real estate managers - RREEF, TA Associates and INVESCO - for investment during 1995. RREEF will be allocated up to $75 million; TA Associates, up to $50 million; and INVESCO, up to $75 million. The recommendation was made by the fund's real estate consultant, The Townsend Group.
Townsend officials said the $200 million will permit the managers to acquire additional traditional properties that should provide investment return at or above market rates.
Los Angeles Fire & Police
LOS ANGELES - Following competitive bidding, the $5.8 billion Los Angeles Fire & Police Pension System re-hired global custodian Bankers Trust for a new, three-year contract. CIO Tom Lopez said Bankers Trust has done a good job for the system and was the low bidder.
Other contenders were State Street Bank, Bank of New York, Chemical Bank, Citibank, Chase Manhattan and Mellon Bank.
CAMBRIDGE, Mass. - The $300 million Middlesex County Retirement System hired Freedom Capital Management to run $12 million in domestic large-cap value equities. The Hannah Group assisted.
Minnesota State Board
ST. PAUL, Minn. - Trustees of the $19 billion Minnesota State Board of Investment voted to invest in an oil and gas fund the lesser of $25 million or 20% of the fund's total capitalization, said Howard Bicker, executive director of the board.
The fund is sponsored by SCF Partners, said Mr. Bicker. In 1991, the State Board of Investment invested $17 million in an earlier version of the fund.
Nashville & Davidson County
NASHVILLE, Tenn. - The $600 million Nashville & Davidson County Metropolitan Government Benefit Board hired Neumeier Investment Counsel to run small-capitalization value equities, said James D. Luther, executive secretary.
Further details weren't immediately available.
PaineWebber assisted in the search.
DEDHAM, Mass. - The $218 million Norfolk County Retirement System allocated $7.5 million to Investment Advisers in a small-cap stock fund.
Hannah Group assisted.
Omaha School Employees
OMAHA, Neb. - The $400 million Omaha School Employees' Retirement System hired Eileen Byrne Associates as the system's real estate consultant, said Michael W. Smith, director.
The fund has $12 million in real estate investments, and is planning to hire real estate managers to run another $28 million.
NEW YORK - PaineWebber Group selected GE Investments to run four global mutual funds as a subadviser. The funds have $600 million in assets. The adviser of the funds is Mitchell Hutchins.
The funds are: Atlas Global Growth; Europe Growth; the equity portion of Global Growth and Income; and Global Small Cap.
PaineWebber has taken over the mutual funds of Kidder, Peabody & Co., which is a GE subsidiary.
Public Welfare Foundation
WASHINGTON - The $300 million Public Welfare Foundation hired four money managers, using proceeds of a maturing 10-year fixed-income note. PIMCO's total return fund got $60.2 million; Miller, Anderson and Sherrerd, $31.8 million for its fixed-income fund; Kalmar, $12 million in small-cap equities; and Putnam Investments, $10 million in global fixed income.
Rhode Island Carpenters
WARWICK, R.I. - The $60 million Rhode Island Carpenters Union Pension Fund hired four money