The $126 million University of New Mexico endowment, Albuquerque, revamped its domestic equity lineup. Two all-cap managers were given $32 million each to run the fund's entire domestic equity portfolio, said Charles Vickers, endowment manager.
MFS Asset Management will run an all-cap growth portfolio modeled after the firm's MFS Research mutual fund; MacKay-Shields will run an all-cap value portfolio.
They replace two primarily large-cap managers: Sirach for growth and Smith Barney for value.
``We were not necessarily comfortable making specific allocations to large and small cap, '' Mr. Vickers said.