The Bricklayer & Trowel Trades International Pension Fund, Washington, plans to add a fifth equity manager and drop one of four bond managers for the $850 million fund, said David Stupar, executive director. The planned changes follow an asset allocation study and manager review.
The fund uses Ark Asset Management and Lazard Freres for both stocks and bonds. Other stock managers are RCM Capital and Columbia Partners. Nicholas-Applegate and Miller Anderson & Sherrerd are the other bond managers. Mr. Stupar declined to say which bond manager might be dropped.
The fund hopes to make the changes by some time next month. Marco Consulting Group is assisting.