Centerior Energy Corp., Independence, Ohio, is considering hiring external money managers to manage its $200 million in corporate cash, now run in-house in a conservative strategy, said Gregory A. Tropf, senior investment analyst.
The treasurer recently placed corporate cash investment operations with Mr. Tropf, adding to his existing duty of overseeing the company's $385 million pension fund. Mr. Tropf is drafting a new corporate cash investment policy, which will be presented to the investment committee of the board of directors in December.
He wants approval to increase risk within prudent limits and to use outside managers. If the committee approves the policy, the company would begin a search for managers, most likely early in the new year.
Trustees of the $110 million City of Fall River (Mass.) Contributory Retirement System are considering investing a small portion of assets in international investments, said Florence Pines, executive secretary.
A decision is expected by year end. The fund now has its assets in balanced funds with Freedom Capital and BayBanks.