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September 29, 1997 01:00 AM

Lockheed Martin Corp., Bethesda, Md., today announced the formation of...

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    Lockheed Martin Corp., Bethesda, Md., today announced the formation of Lockheed Martin Investment Management. The wholly owned subsidiary will manage the more than $45 billion in retirement and savings plans assets the company will have following its merger with Northrop Grumman. LMIM will be based in Washington and will be effective in mid-October.

    Anthony G. Van Schaick will be president and CEO.Mr. Van Schaick had worked for Lockheed from 1978 to 1995, in various financial posts. He most recently was senior vice president and CFO at John Wieland Homes.

    Sacramento County (Calif.) Employees' Retirement System is reviewing its domestic equity portfolio, and will begin a full-scale asset allocation study by early next year, said CIO Jeffrey States. Pension Consulting Alliance is looking at the structure and different market capitalizations used for the $1.3 billion portfolio, and is expected to have recommendations by the end of October.

    The $2.7 billion fund's current equity managers are Nicholas-Applegate, Alliance Capital, Bankers Trust, Chancellor and Oppenheimer.

    Los Angeles County Employees' Retirement Association will interview ICM Asset Management Nov. 19 to decide whether the firm should move out of the fund's emerging manager program and onto its regular manager roster.

    ICM now manages about $20 million for the fund in a small-cap value portfolio. If the firm is hired as a regular manager, its portfolio could grow to as much as $150 million, said a spokeswoman for the $22 billion fund in Pasadena, Calif. The money might come from a $150 million Russell 2000 index fund LACERA has with Bankers Trust.

    Deutsche Fund Management launched nine mutual funds in the U.S. market.

    The offerings include seven equity funds: Top 50 World, Top 50 Europe, Top 50 U.S. and Top 50 Asia, which invest in the perceived 50 best companies in their respective regions; Deutsche German Equity Fund; Deutsche Japanese Equity Fund; and Deutsche European Mid-Cap Fund. Also offered are the Deutsche Global Bond Fund and the Deutsche European Bond Fund.

    DFM, the investment manager of the new funds, is the U.S. unit of DWS Group, an arm of Deutsche Bank Group. The funds will be available in the U.S. as of Oct. 1.

    MFS Investment Management dropped Foreign & Colonial Emerging Markets as subadviser of two of its mutual funds, the MFS/Foreign & Colonial International Growth Fund and the MFS/Foreign & Colonial Growth and Income Funds.

    MFS officials attributed the manager change to improved in-house capabilities. Foreign & Colonial remains the subadviser of MFS/ Foreign & Colonial Emerging Markets Fund.

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