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May 22, 1997 01:00 AM

SEARCHES & HIRINGS The City of San Jose (Calif.) will issue RFPs in...

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    SEARCHES & HIRINGS

    The City of San Jose (Calif.) will issue RFPs in June for bundled and unbundled service providers for its $200 million deferred compensation plan. Pam Mathus, chairwoman, said the committee will evaluate responses before deciding which approach to take. RFPs are due in July, with an evaluation conference scheduled the same month. Aetna and ICMA now provide record keeping, administration and some investment management, while some assets are managed internally.

    University & Community College System of Nevada, Reno, is searching for a single fixed-income manager for its $180 million endowment fund. The fund now uses Sanford Bernstein, the Common Fund and Grantham, Mayo van Otterloo for its $50 million fixed-income portfolio, but wants a single manager that can offer different types of investments, said Tim Ortez, director of banking and investments. The search should be completed by the end of June. Cambridge Associates will compile a list of candidates. The existing managers are being considered.

    Park Employees Annuity and Benefit Fund of Chicago hired Wellington Management as its first active international equity manager. Wellington will run an initial $10 million for the $520 million fund. Assets will come from a reallocation among domestic managers. The fund also may hire a second manager as assets become available, said Joe Fratto, executive director. Ennis Knupp assisted.

    Crazy Shirts Inc., Aiea, Hawaii, hired Diversified Investment Advisors as its first bundled provider for its $13.5 million profit-sharing and 401(k) plan. Diversified will provide 13 funds and replace two managers and mutual fund providers used when profit-sharing and 401(k) were run as separate plans, said CFO Dennis Taylor. He would not name the firms let go. Smith Barney Consulting assisted.

    The Indianapolis Symphony Orchestra Foundation hired Conseco Capital Management to manage a $7.6 million equity portfolio, according to a spokeswoman for the $76 million foundation fund. Assets will come from a reallocation.

    Carleton Technologies Inc., Orchard Park, N.Y., hired Diversified Investment Advisors as a bundled provider for its 401(k) plan. A need for daily valuation prompted the move to the bundled approach, said Tama Gresco-Sauers, employee benefit/training administrator. Record keeper KBM Management was dropped, as were INVESCO, Federated Investors, Fidelity and Warburg Pincus as fund option providers. The $7.5 million plan now has nine investment choices, up from five provided by the previous managers.

    The search was completed in-house

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