Alaska State Pension
JUNEAU, Alaska -- The Alaska State Pension Investment Board, Juneau, hired McKinley Capital to manage a $100 million U.S. equity portfolio for the Alaska Public Employees' and Teachers' Retirement System, said Steve Eason, an investment officer of the $11 billion system. The portfolio will be benchmarked against the Russell 1000 Index. No other information was available.
LINCOLN, Neb. -- Aliant Communications Co. hired Wellington Management as a non-U.S. equity manager to replace Bankers Trust, which was terminated.
Michael Talvin, vice president-treasurer, would not give the reason for the firm's termination. He also would not say how much BT managed.
Plan officials now will consider how the results of a recent asset allocation study will be implemented. It is not yet known whether investment managers will be hired or whether the asset mix will be changed, Mr. Talvin added. Performance Analytics is assisting.
Ann Arbor City Employees'
ANN ARBOR, Mich. -- Ann Arbor City Employees' Retirement System hired Bradford & Marzec as a core-plus domestic fixed-income manager.
The firm will manage $45 million, which will come from rebalancing and the termination earlier this year of domestic core bond manager Lexington Global Asset Managers. As part of the core-plus strategy, Bradford & Marzec will be allowed to invest up to 10%in high-yield bonds and 10%in international bonds. Callan assisted.
Atlas Asset Management
TORONTO -- Atlas Asset Management Inc. named Newcastle Capital Management to manage the C$360 million (U.S.$254 million) Atlas Canadian T-Bill Fund, previously managed by Salomon Brothers.
Salomon remains the portfolio manager for Atlas Canadian Money Market Fund and Atlas American Money Market Fund, as well as the Atlas World Bond Fund. Newcastle also manages the Atlas American RSP Index Fund and the Atlas International RSP Index Fund.
Atmos Energy Corp.
DALLAS -- Atmos Energy Corp. hired Cadence Capital to manage $40 million in small-cap growth equity. Funding will come from the rebalancing of assets that follows the Atmos Energy plan's merger with the $88 million United Cities Gas plan effective Nov. 1. Also, Montag & Caldwell, a former manager for the United Cities plan, will run a $60 million large-cap growth equity portfolio, replacing Columbus Circle Investors.
KANSAS CITY, Mo. -- Businessmen's Assurance Co. of America, hired Sanford C. Bernstein for its $75 million pension fund, said Robert Sawyer, senior vice president and chief investment officer. Bernstein will manage a large-cap value portfolio.
The amount of the assignment wasn't available. Funding will come from a reallocation. DeMarche assisted.
ROSEMONT, Ill. -- Comdisco Inc. hired Putnam as a semibundled provider for its $100 million defined contribution plan.
Previously, the plan was handled internally. Putnam and T. Rowe Price will provide nine funds plus a company stock fund, said Jerry Fitzgerald, plan trustee.
DiMeo Schneider & Associates assisted.
Colorado Local Government
DENVER -- Colorado Local Government Liquid Asset Trust 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.
Under the agreement, AMMA and MBIA will provide investment management and municipal services such as bond insurance, arbitrage rebate, municipal disclosure, tax recovery, discovery and administration and municipal consulting. Trust participants will be protected from any loss in the investment pool resulting from liquidation of funds through a liquidity guarantee backed by MBIA.
The fund, commonly known as COLOTRUST, previously had been managed by a local firm, Hanifen & Imhoff Inc., and administration had been internal.
Florida State Board
TALLAHASSEE, Fla. -- The $70 billion Florida State Board of Administration will hire Smith Barney Capital and Trinity Investment Management as large-cap value managers, said Lan Janecek, chief of equities.
Final portfolio sizes have yet to be determined, but they reportedly were between $300 million and $500 million.
The mandates are expected to be funded from cash by year end, pending finalization of contracts. Ennis Knupp is assisting.
ST. PAUL, Minn. -- Hamline University hired two small-cap managers for its $42 million endowment fund, said Orwin W. Carter, vice president-finance and operations. It hired Strong Capital Management for growth and Rosenberg Institutional Equity Management for value. Each will be assigned 10%of the fund.
Funding will come from Mitchell Hutchins Asset Management, which had run the 20%small-cap allocation blending growth and value and was dropped.
Jeffrey Slocum & Associates assisted.
ITASCA, Ill. -- Knowles Electronics Inc. hired T. Rowe Price as a bundled provider for its defined contribution plan.
The $23 million plan now has options provided by T. Rowe Price, Dodge & Cox, Vanguard and American Funds. The new plan will offer six options plus three lifestyle funds. Plan officials have yet to decide whether some funds offered by other firms also will be offered, said Alan Perry, vice president of human resources.
DiMeo Schneider & Associates assisted.
FENTON, Mo. -- Maritz Inc. will add four investment choices to its $70 million 401(k) plans, said David Fleisher, senior executive vice president and chief financial officer.
Maritz will add three lifecycle funds managed by American Century and Charles Schwab OneSource, which allows participants to select from several hundred mutual funds. The additions mean the 401(k) plan now will offer 12 choices.
NASHVILLE -- The Metropolitan Government of Nashville and Davidson County Benefit Board hired Montag & Caldwell to manage $51 million in large-cap growth stocks. Funding for the hire came partly from the termination of Lee Danner & Bass, which managed $40 million in large-cap growth, and from the reallocation of assets among existing managers.
Lee Danner was terminated because of "below-standard performance," said James Luther, executive director. John Lee, president of Lee Danner, would not comment on the termination.
The fund also terminated SunTrust as a fixed-income intermediate manager for performance reasons. A spokesman there did not return calls. The firm managed $25 million.
HARRISBURG, Pa. -- The $800 million Pennsylvania Municipal Retirement System hired Forest Investment Associates as its first timberland manager.
The firm will handle $20 million, which will come from new contributions, said James B. Allen, chairman of the board.
Dahab Associates assisted.
St. Luke's Shawnee Mission
KANSAS CITY, Mo. -- St. Luke's Shawnee Mission Health System hired Summit Strategies as its first consultant to help oversee the pension, corporate and endowment assets.
Summit will review the allocation of all of the system's $400 million in combined assets. Officials hope to be finished with the review early next year, said Ron Bremer, chief financial officer.
Sierra Technologies Inc.
BUFFALO, N.Y. -- Sierra Technologies Inc. hired M&T Capital Advisors to manage its $30 million defined benefit plan, using a balanced style that will include midcap growth and equity-income styles, said Jeffrey Miller, vice president. Sierra decided having one manager would increase efficiency. Previously, the fund was advised by Newport Capital Advisors, but all transactions were handled in-house.
Southern California UFCW
CYPRESS, Calif. -- The Southern California UFCW Union & Food Employers pension fund selected Mellon Trust as its new custodian and might add a global custodian, said Joel Meltz, chief financial officer of the $3.8 billion fund. Mellon replaces Wells Fargo.
A global custodian might be hired to accommodate the fund's new $150 million allocation to international equities. Mr. Meltz said an international manager also has been selected, but declined to name the manager until contracts have been signed.
R.V. Kuhns & Associates assisted with both selections.
University of Michigan
ANN ARBOR, Mich. -- The University of Michigan 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 investments of the $2.9 billion endowment fund, said Norman Herbert, treasurer.
Cambridge Associates assisted.
Vermont State Employees'
MONTPELIER, Vt. -- The $800 million Vermont State Employees' Retirement System, Montpelier, has hired HLM Management as a small-cap growth manager and Rothschild Asset Management as a small-cap value manager to run a total portfolio of about $60 million, said James H. Douglas, state treasurer. Details have not yet been decided. The money will come from reducing allocations to other equity managers.
Washington State Investment
OLYMPIA, Wash. -- The $40 billion Washington State Investment Board hired Hearthstone Homebuilding Investors to manage $50 million in residential real estate. The fund also allocated an additional $200 million for U.S. industrial and suburban office properties to TA Associates, bringing the firm's total portfolio for the board to $400 million.
Separately, the fund selected Barclays Global Investors to continue managing $15.7 billion in passive U.S. equities.
Wisconsin Public Service
GREEN BAY, Wis. -- Wisconsin Public Service Corp. will add the Vanguard Total Market Portfolio to the seven options in its $125 million 401(k) plan, said Jerry Myers, manager-employee benefit administrator committee.
The company also hired Oechsle International as an international equity manager for its $100 million VEBA plan. The firm will manage a $10 million portfolio of core international stocks with some ability to invest in emerging markets. Funding will come from a rebalancing.
Workplace Health, Safety
SAINT JOHN, New Brunswick -- The Workplace Health, Safety and Compensation Commission of New Brunswick hired Northern Trust as custodian, said Warren H. Gerow, manager-treasury and investments. Incumbent Royal Trust, State Street and CIBC-Mellon also vied for the assignment.
The C$600 million (U.S.$421 million) insurance fund expects to transfer its assets Jan. 2.