Arinc Inc., Annapolis, Md., hired Strong Capital Management to manage a $20 million U.S. fixed-income portfolio for its $230 million defined benefit plan.
The hiring resulted from a rebalancing to move closer to target allocations, said David Erculiani, director of pension management. Large-cap equities were reduced to fund the additional bond allocation, but no managers were terminated. Mercer assisted.
Mr. Erculiani expects more hirings late in the fourth quarter or early in the first quarter.