Blanchard Valley Health Association, Findlay, Ohio, overhauled the investment management of its $35 million investment fund, said Garth Beatty, vice president of finance. Five managers were hired and one manager's allocation was increased.
Fifth Third Bank will run $5 million in short-term U.S. fixed income; Sanford Bernstein, $7.5 million in U.S. large-cap value equity; INVESCO, $9 million in fixed income; Heartland, $3 million in U.S. small-cap equity; and Warburg Pincus, $3 million in international equity.
Wilke Thompson's domestic growth stock allocation increased to $7.5 million from $3 million. Fund Evaluation assisted with the search.
Dean Associates was terminated; it had managed $15 million in a balanced portfolio. The remaining assets had been managed by various bank trust departments, said Mr. Beatty.