SEARCHES & HIRINGS
Sargent & Lundy, Chicago, hired Numeric Investors as a small-cap equity manager for its $151 million defined benefit plan. Numeric will run $18 million, replacing NWQ, which invested in large-cap equities, said Alex Cudzewicz, vice president of accounting.
The termination was due to the fund's overweighting in large-cap equities.
AFA Protective Systems Inc., Syosset, N.Y., hired firms to provide investment management and record keeping for a new 401(k) plan, said Raymond Greenberger, treasurer. Chase will provide three of its Vista funds: fixed income, small-cap equity and balanced. Dreyfus will provide a bond fund and an active equity fund. Fidelity provides an aggressive growth fund. Chase also will be the record keeper.
Samaritan Health System, Phoenix, Ariz., added four funds to its $130 million defined contribution plan. Added were: MAS Fixed Income Fund, Vanguard S&P 500 Index Fund, PBHG Emerging Growth and American Fund's EuroPacific Growth Fund. The funds replace the Janus Fund, Bankers Trust S&P 500 Index Fund and Dodge & Cox Balanced Fund, said Bernard Brody, system director-compensation and benefits.
Officials made the changes after a review of the funds, prompted by Samaritan's merger of its 401(k) plan with the plans of two other health care organizations Bankers Trust will continue to provide its Fixed Principal Fund. Watson Wyatt assisted.
City of Sarasota (Fla.) Police Officers' Pension Plan hired Mississippi Valley Advisors as a balanced manager for $25 million. The firm replaced C.J. Lawrence, which was terminated because of performance, said Benita Saldutti, pension manager for the $75 million fund. C.J. Lawrence officials did not return calls. Merrill Lynch assisted.
Nomura Investment Trust, Tokyo, hired Spectrum Asset Management as subadviser for a new investment trust to be managed primarily with a portfolio of U.S. hybrid preferred securities. It was opened to Japanese investors Jan. 31 and has assets of more than $70 million