The $630 million Minneapolis Teachers' Retirement Fund Association signed contracts with two managers for core fixed-income strategies, said Patricia Ammann, assistant investment officer-marketable securities. Northern Trust and Loomis Sayles' Milwaukee and Minneapolis offices each will manage $55 million, she said. The changes were made as a result of a switch to more of a core fixed-income strategy, she said.
Elano Corp., Dayton, Ohio, hired GE Investment Retirement Services as full-service provider for two defined contribution plans with $20 million in assets and a new 401(k) plan, effective Jan. 1.
The two existing plans previously were managed in an unbundled arrangement using multiple providers for each, but fund officials decided it would be more efficient to have one full-service provider for all of the plans. GE Investments will use State Street Bank for record keeping and administration.
GE Investments also will offer services including investment management, enrollment, communications and education.
Jewel Financial Services is the fund's consultant