SEARCHES & HIRINGS
Ventura County Employees Retirement Association, Ventura, Calif., issued RFPs for an consultant. Only eight or nine firms were sent RFPs, including incumbent Asset Strategy Consulting, said Van Perris, retirement manager for the $1.5 billion fund. Trustees decided to do a search after Asset Strategy proposed an increase in its fees. RFPs are due June 9.
Lansing (Mich.) Retirement System is preparing to issue RFPs for a consultant. The board of the $300 million fund felt recent personnel turnover at current consultant the Hannah Group necessitated a search. Hannah will be allowed to participate. The search should be close to being finished within the next 90 days, said Bob Swanson, director of finance.
Reliable Stores Inc., Columbia, Md., hired Diversified Investment Advisors and adopted a bundled approach for its $2.8 million 401(k) plan. Diversified will provide five fund options. Fidelity had been fund manager and provided three mutual fund options. Boltman, Offit and Donovan, which provided record keeping, will remain as plan consultant and assisted in the bundled search, said Carmela Bell, vice president and general counsel.
The Iron Workers District Council of New England, Boston, will add the Rosenberg Small-Cap Fund and the Templeton Foreign Fund to its lineup of defined contribution plan options July 1. With the addition, the $70 million plan will have nine options. Record keeper KPMG assisted in the research of new options, said Thomas Broderick, fund administrator.
The Indianapolis Zoological Society Foundation hired Conseco Capital Management to manage its entire endowment portfolio. The $3 million balanced portfolio had been managed by First Chicago NBD. Claudia Willis, controller, declined to discuss the termination.
The search was conducted in-house.