Maritz Inc., Fenton, Mo., will add three lifecycle funds from American Century and Charles Schwab OneSource to its $70 million 401(k) plan, said David Fleisher, senior executive vice president and CFO.
The Schwab program allows participants to select from several hundred mutual funds.
Maritz now will offer 12 options.
University of Michigan, Ann Arbor, will commit $16.9 million to the Candover 1997 Fund, a U.K. and continental European buy-out fund offered by Candover Partners. The commitment will be funded over the next three to four years from cash from the $2.9 billion endowment fund, said Norman Herbert, treasurer. Cambridge assisted.
Colorado Local Government Liquid Asset Trust, Denver, hired American Money Management Associates, a subsidiary of MBIA Municipal Investors, as investment adviser and administrator of the $1.1 billion cash investment pools for local governments. AMMA and parent MBIA will provide investment management and services such as bond insurance and a liquidity guarantee.
The fund, commonly known as COLOTRUST, had been managed by Hanifen & Imhoff; administration had been internal.