SEARCHES & HIRINGS
The $100 million-plus Transport Workers Union-Metropolitan Suburban Bus Authority Employees' Pension Trust, East Meadow, N.Y., hired Loomis Sayles and Amivest to manage domestic growth equity portfolios, said Joan Engert, fund manager. Loomis will manage $21 million; Amivest, $6 million. Both will be funded from proceeds of a maturing GIC with The New England.
Reynolds Securities is the fund's consultant.
Frankenmuth Mutual Insurance Co., Frankenmuth, Mich., hired T. Rowe Price to provide bundled services for its $12 million defined contribution plan, effective Jan. 1. Seven diversified T. Rowe Price mutual funds will be offered. T. Rowe Price also will provide trust and administrative services, daily valued record keeping, an automated voice response system, employee communications and investment education. Frankenmuth had used an internal record-keeping system.
Two existing GIC contracts will continue as plan options until they mature. Two investment options, run by Equitable and Vanguard, will be dropped. Asset Strategies Portfolio Services assisted.