NCM Capital Management was hired by Texaco Inc. to manage a fixed-income indexed portfolio, not the core fixed-income approach for which performance was cited in the story in the Jan. 20 issue. The index fund strategy was started July 1, and so far has a tracking error of less than 10 basis points against the Shearson Lehman Government/Corporate Index. Texaco did not initially identify the approach for which it had hired NCM.
Smith Graham & Co. was hired by Texaco for a global fixed-income mandate. According to the firm, the global fixed-income composite returned 4.3% for the year ended Sept. 30, 8.9% for three years and 10.7% for 10 years, compared with 4.4%, 8.2% and 9.3% for its benchmark, the J.P. Morgan Global Government Bond index.
In a table accompanying a Jan. 20 article on GE Investments, the name of John H. Myers, the firm's new president and chairman, was misspelled.
The defined contribution tot als for 1995 on the Profile Statistic at a Glance chart on page 20 of the Jan. 20 issue, should have been reduced to account for the reclassification of TIAA-CREF and the ICMA Retirement Fund as managers. The totals for the top 1,0 00 and top 200 defined contribution should have been $581.4 billion and $373.2 billion, respectively. Overall, the top 1,000 assets in 1995 should have been $2.97 trillion and for the top 200, $2.28 trillion.
