The Daughters of Charity National Health System, St. Louis, hired five managers for its $1.5 billion capital depreciation fund, said Mark Amiri, director-treasury services.
For U.S. small-cap stocks, it hired Duncan-Hurst Capital Management, Mississippi Valley Advisors and Target Investors. For international equity, it added Brinson Partners and Templeton. The system will fund them initially with $90 million in total and intends to raise their assignments over two years. Further details weren't available.
Funding will come from cash flow and intermediate fixed income that was being temporarily invested and was dedicated for the new allocations.