HIRINGS
The San Diego County Employees' Retirement Association hired Mount Lucas Management to run $20 million in passive managed futures and committed $10 million to Oak Tree Opportunities fund II, a distressed debt fund, said Robert Snigaroff, investment officer for the $3.3 billion fund.
In the managed futures hiring, the $20 million will be linked to the Mount Lucas Management Index, and will be leveraged 2.5 times. The allocation will be run in an ``overlay'' strategy, as is the association's existing $140 million in managed futures.
The overlay strategy doesn't set aside cash for the allocation, other than for futures margin.
Mobile (Ala.) Police and Firefighters' Relief Fund hired Lazard Freres as a small-cap equity manager to handle $5 million.
The $50 million fund has yet to finalize the contract and to move the assets from State Street Global's $30 million Russell 3000 index portfolio.
Hannah Group assisted.
City of Melbourne (Fla.) Municipal Police Officers Pension Trust Fund hired Glickenhaus & Co. to manage its entire $23 million fund in a balanced portfolio, said Tina Casey, secretary. Glickenhaus replaces NationsBank.
The fund also is looking for a new custodian, but no further information was available. Foster & Foster is assisting.
