The $125 million Les Schwab Tire Centers profit-sharing fund, Prineville, Ore., is considering a move to outside management for fixed income, said Jim Goad, manager-finance.
The fund runs about $2 million internally in fixed income, but could increase its allocation as part of the consideration to hire an outside manager. The pension board could make a decision next month on the move and start a search for a manager.
R.V. Kuhns & Associates is assisting in the study.
The $750 million Parochial Employees Retirement System of Louisiana, Baton Rouge, will produce a short list of international equity managers at its early December board meeting. The system is seeking its first core international manager for a $45 million placement. Final selection will be made by early January, according to Thomas Sims, administrative director. Mercer is assisting.
The Pension and Welfare Benefits Administration is planning to work with a skeleton crew tomorrow, assuming no last-minute deal is reached to avert a partial shutdown of the federal government tonight.
Hal Glassman, a spokesman for the agency, said 47 of the agency's 600 employees are considered essential or exempt from the likely furlough of federal workers. He said 40 workers, about 10% of the normal staff, will be onboard at the agency's 15 regional field offices, and another seven employees will be at the office in Washington.
Meanwhile, a spokeswoman for the PBGC said that agency ``will not be affected at all'' by any shutdown because the PBGC is a self-financed government corporation.
The London International Financial Futures and Options Exchange and the Tokyo International Financial Futures Exchange signed a formal link to start trading three-month Euroyen futures contracts on LIFFE beginning in April.
The agreement will allow for Euroyen trading in the European time zone beginning when trading in Tokyo ends. Euroyen futures are heavily traded in Tokyo, having an average daily volume of 158,000 contracts this year through October and open interest of about 1.4 million contracts, according to LIFFE.
