Futures manager Hart Bornhoft will split its business in two, with Chairman Patrick Hart taking the institutional side and Richard Bornhoft, president, taking the retail side, said Bryan Dower, vice president of finance and operations. Business growth, as well as philosophical differences, led to the decision to split, Mr. Dower said. Hart Bornhoft manages $120 million in institutional assets.
Officials at the San Diego County Employees' Retirement Association, a major client, will meet with Hart Bornhoft executives to discuss how the split will affect their managed futures portfolio, said CIO Richard N. Rose.
Syntex USA Inc., Palo Alto, Calif., increased an assignment of Barclays Global Investors for its $400 million pension fund, said Susan Griswold, director-strategic financial planning and trust investments.
It added $70 million, bringing the total to $90 million. Barclays manages a value equities portfolio. Assets came from a reallocation. Strategic Investment Solutions assisted in the change.
Northern Capital Management hired Frontier Partners to perform marketing and client servicing, said Daniel Murphy, president and CIO. Mr. Murphy said that after spending time refocusing the investment management side of the business following personnel changes, Northern Capital executives are ready to push again for national business.