HIRINGS
Metropolitan Water Reclamation District Retirement Fund of Chicago hired Kenwood Group, assigning it $7 million for midcap value equities, said George Kirie, financial analyst. The $800 million fund added $10 million to its equity index fund with ANB, raising that portfolio to $102 million. It also added $5 million each to Phoenix Duff & Phelps and to Zurich, both core growth equity managers, raising their assignments to $61 million each.
Funding came from dropping Abacus, a core bond manager, from decreasing an ANB bond index fund, which retains $83 million, and other reallocations.
Halliburton Co., Dallas, hired Hewitt Associates as record keeper for its $3.8 billion defined contribution plan. The plan had been administered internally. Nathaniel Duffield, director-trust investments, said the plan will move to daily valuation from monthly.
City of Anniston (Ala.) Policemen's and Firemen's Retirement Fund hired AG Edwards, Southern Trust Bank and Merrill Lynch to run the fund's newly created equities allocation, which includes both domestic and international stocks.
Each firm will run $3.2 million, which will come from an $11.3 million money market fund that run by Merrill Lynch. The remaining $1.8 million will go to bond managers and cash. The searches were completed in-house. The city recently passed legislation allowing the $23 million fund to hire outside equity managers.
