Berkshire County Council Superannuation Fund hired Gartmore Investment Management to manage a £36 million to £38 million European equities portfolio, said Jack Johnson, manager of the £707 million ($1.16 billion) pension fund.
Assets came from a £143 million international equity portfolio previously run by PDFM. The portfolio is being broken into European, Japanese and U.S. equity portions. Schroder Investment Management recently was named to manage the Japanese portfolio, while the U.S. portion should be assigned soon. Hymans Robertson assisted.
Consolidated Edison Co. of New York hired Mercer Consulting to perform an asset-liability study for the company's $5.7 billion defined benefit and $460 million defined contribution plans, confirmed Earl W. White, director-trust investments. Mercer also will help Consolidated Edison develop a financial strategy as the company restructures itself to compete in a deregulated business environment.
Virginia Military Institute, Lexington, Va., hired Scott & Stringfellow as a $10 million small-cap equity manager for its $157 million endowment fund. The firm replaces Kennedy Capital Management, which was terminated, said CFO David Prasnicki.
Wellesley Group assisted.
Interstate Electrical Services Corp., North Billerica, Mass., hired Diversified Investment Advisors as the bundled provider for its $4.4 million 401(k) plan. The investment committee decided on a search after former provider Bay Bank was acquired by the Bank of Boston, said Ed Zinck, personnel manager. The search was completed in-house.
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.
Park Tudor School, Indianapolis, hired Conseco Capital Management to run $5 million in equities for its $40 million endowment.
Assets came from existing managers, but no one was terminated. Fund Evaluation Group assisted.