Yields on pooled stable value funds slipped slightly in the first quarter of 1996, to an average of 1.55% from 1.59% at the end of 1995, Hueler Analytics reports. By comparison, the Salomon Broad bond index was down 1.74% during the quarter. The 12-month rolling average pooled funds return was 6.5% as of March 31, down from 6.53% at the end of 1995. GIC sources say pooled fund rates trailed rising interest rates during the quarter because expiring longer maturity contracts with higher yields are being rolled into newer contracts yielding between 6% and 7% now.
The $150 million pension fund of the International Brotherhood of Electrical Workers Local No. 26, Lanham, Md., hired Columbia Partners Investment Management to manage $15 million in a balanced portfolio, confirmed Dana Schubert, fund administrator. The money was previously with ASB Capital Management, which still manages about $70 million of the fund's assets, he said. ``This is just diversification as to managers and style,'' he said.