Trustees of the $10.9 billion New York City Police Pension Fund hired Pictet International Management and Genesis Emerging Markets Fund for emerging markets equities, said Jon Lukomnik, deputy comptroller-asset management. Each firm will receive $75 million. The money to fund the commitments will come from a reduction in the system's domestic fixed-income allocation, he said.
The $16 million defined contribution plan of Metro Information Services Inc., Virginia Beach, Va., hired Twentieth Century Services for bundled services, said Steve Lurus, director of finance.
Eight Twentieth Century mutual funds and the Benham Income and Growth fund will be offered as options.
Twentieth Century replaces Principal Financial Group. Metro wanted to provide employees with mutual funds they could track more easily, and the company wanted to be affiliated with a pension fund adviser rather than an insurance company, said Mr. Lurus.