The $45 million Delray Beach Police and Fire Retirement Plan, Delray Beach, Fla., hired INVESCO and Rittenhouse as balanced managers to evenly divide the plan's assets, said Joseph M. Safford, director of finance. In equities, however, INVESCO will focus on value stocks and Rittenhouse on growth. Funding came from dropping STI Capital Management and Barnett Banks Trust, both balanced managers; the plan will retain Barnett as custodian.
Smith Barney assisted in the searches
