Alyeska Pipeline Service
ANCHORAGE, Alaska - The $200 million Alyeska Pipeline Service Co. 401(k) plan hired four managers, said Richard W. Brown, benefit plan administrator. Cowen Asset Management will run a small-cap stock option; Capital Guardian, international equities; Columbia Management, a balanced fund; and Prudential, a Wilshire 5000 stock index fund. Callan Associates assisted.
A. Gary Anderson Foundation
ANAHEIM, Calif. - The A. Gary Anderson Foundation hired six investment managers to run undisclosed amounts, said Daniel Coelho, trustee. NFJ Investment Group was hired for large-cap value; Cadence Capital, large-cap growth; Equitable Asset, small-cap growth; ICM Asset, small-cap value; and Seix Investment and Pacific Investment Advisors, fixed income.
No other details were provided.
Boston City Retirement
BOSTON - The $1.7 billion Boston City Retirement System hired Boston Co. Asset Management and Essex Investment Management for small-cap mandates of about $30 million each. BCAM will manage value stocks and Essex, growth. They replace Target Investors and Thorsell Parker Partners. Callan assisted.
Coca-Cola Bottling Co.
CHICAGO - The Coca-Cola Bottling Co. of Chicago hired Putnam to provide fully bundled services for its 401(k) plan, said Yvonne Steinweg, manager of employee benefits. The plan will offer nine investment options managed by Putnam, in addition to company stock. Previously, the plan had been unbundled, with quarterly record keeping from Ernst & Young and five investment options managed by different managers. According to the 1996 Money Market Directory, the fund has $32 million in assets.
NORTH READING, Mass. - The $46 million pension fund of Converse Inc. changed its asset mix and hired two managers, making its first allocation - 10% of assets - to international equities, said James Halldorson, director of benefits and wellness programs.
Putnam Investments was hired to manage about $5 million in international equities. The fund also allocated $7.6 million to the Scudder, Stevens & Clark's Growth & Income (U.S.) Equity Trust.
Funding came from changes in the asset mix; lowering allocations to some domestic managers; and terminating Newbold's, which had managed $5 million of U.S. equities.
Kansas State University
MANHATTAN, Kan. - The $90 million Kansas State University Foundation fund hired Endowment Advisers Inc., a companion organization of The Common Fund, to invest 1% of the fund's assets in oil and gas, said David L. Weaver, vice president-real estate and investments. Funding will come from cash flow.
Love Box Co. Inc.
WICHITA, Kan. - Love Box Co. Inc. hired New York Life Benefit Services as record keeper for its 1,000-participant, $15 million 401(k) plan. Love Box now will be getting bundled services from New York Life; the insurer already managed the fund's nine investment options. CPI was the previous record keeper.McGraw-Hill Cos.
NEW YORK - McGraw-Hill Cos. Inc.'s $640 million 401(k) and profit-sharing plan will double its investment options to 10, effective Oct. 1, said John Campbell, manager of benefit plans financing.
The firm is adding one core equity fund, Neuberger & Berman Guardian Trust, as well as an aggressive equity option equally weighted among three funds - Putnam Voyager, Kaufmann Fund and Meridian Fund.
It also will add an international option with equal weightings in two funds - Templeton Foreign and Rowe Price-Fleming International.
McGraw-Hill also will create two asset allocation funds, unitizing separate accounts in the defined contribution plan into mutual funds. The mutual funds will be managed by the same firms handling the separate accounts - Pacific Financial Research for value equities; Fayez Sarofim for growth equities; STW for fixed income; and WorldInvest for international equities.
WASHINGTON - MCI Communications is retaining Putnam Investments as record keeper and investment manager for some assets in the company's $1.06 billion 401(k) plan, said John Hudson, director of treasury services. Putnam manages about $285 million of the assets.
MEMPHIS, Tenn. - The $700 million Memphis Light, Gas, & Water Division hired HGK Asset Management for fixed income, said Pat Howard, financial analyst. It will be assigned $37 million to invest in Treasury, mortgage-backed and corporate debt securities. Funding came from Princeton Investment Management, which managed a portfolio of mainly Treasuries. Consulting Services assisted.
State of Michigan
LANSING, Mich. - The $28.7 billion State of Michigan Retirement Systems hired Koll Bren Realty Advisors to invest $100 million in office properties, said Philip Van Syckle, administrator-mortgage and real estate. In its first deal, Koll purchased a west Los Angeles County office park for $23 million.
ROCKVILLE, Md. - The $1.24 billion Montgomery County Employees' Retirement System moved $25 million in small- and midcap domestic equities to Numeric Investors from other unidentified domestic stock managers, said Patrick Bell, senior investment manager.
The fund already had $85 million with Numeric in market neutral and core large-cap stock portfolios.
CAMBRIDGE, Mass. - The $153 million Radcliffe College endowment fund hired GMG/Seneca Capital Management to run $14 million in domestic equities. It also added $5 million to the international equity assignment of The Common Fund, bringing its total to $20.5 million, said Atlas Evans, controller.
Assets came from a miscellaneous cash fund. Cambridge Associates assisted.
DELAND, Fla. - The $80 million Stetson University endowment fund hired three managers, said Ann Y. Graham, vice president-finance. Townsend Asset Management will run $4.5 million in value equities; ZPR Investment Management, $16 million in growth equities; and Great Northern, $12 million in fixed income. Funding will come from a bequest, cash flow and a manager that was dropped. Fund officials declined to name the firm.
Vantage Consulting assisted.