W.R. Grace & Co., Boca Raton, Fla., is considering a change in the asset allocation of its $854 million pension fund, said Afonso Wong, financial compliance administrator.
The fund has 50% of assets in foreign investments and might increase its domestic weighting. There are seven international managers and five domestic managers, he said. No timetable for an asset allocation study has been established.
The fund also terminated Morgan Stanley as custodian and retained Northern Trust as master trustee. W.R. Grace expects to save $800,000 in fees by consolidating services. Bank of New York, State Street Bank and Northern were finalists in the in-house search.