SEARCHES & HIRINGS
Arvin Industries, Columbus, Ind., is searching for a U.S. value equity manager to handle $20 million of its $250 million defined benefit plan. The search should be completed by the end of June, said A.R. Sales, treasurer. Hewitt Associates is assisting.
The new firm will replace Newbold's Asset Management, which was terminated last year.
The Greater Miami Jewish Federation, with about $45 million in assets, hired Cohen, Klingenstein and Marks for an $8 million large-cap growth stock portfolio, said CFO Stephen Schwartz.
Assets came from a change of managers; he did not name the previous firm. Consulting Services Group assisted.
Strong Funds, Menomonee Falls, Wis., selected Barclays Global Fund Advisors to manage its first passive mutual fund, the Strong Index 500 Fund. Expense ratios are capped at 45 basis points until at least 1999. The minimum investment is $2,500