SEARCHES & HIRINGS
Timber Operators Council, Tigard, Ore., approved its first allocation to international equity and international bonds, said Sharon Griffin, retirement manager. The $200 million fund will allocate $20 million to each asset class.
An international equity manager search is being conducted through consultant R.V. Kuhns. Finalists will be interviewed in late February. Candidates for the international bond manager search are expected to be interviewed in April. Ms. Griffin expects two equity managers and three bond managers to be hired.
VIA Rail Canada Inc., Montreal, hired three managers for its defined benefit plan. Primus Capital will manage C$6 million in passive managed futures; Chesapeake Capital, C$6 million in an active managed futures contract; and Morgan Stanley, an active commodities portfolio of C$6 million.
The allocations are part the on-going changes in investment policy VIA Rail, said Chris Caswell, director of corporate financial services.
The company's defined benefit plan totals C$11.2 billion (U.S.$7.9 billion), of which C$25 million (U.S.$17.5 million) will now be in managed futures.
Ash Grove Cement Co., Overland Park, Kan., hired Systematic Financial Management for its $130 million pension fund, said James Sunderland, chairman.
The firm will be assigned $20 million to run in value equities.
Funding will come from an equity portfolio managed in-house, which will retain about $10 million.
The Dallas County deferred compensation plan, Dallas, retained incumbent service provider PEBSCO and added Great West Life to provide additional investment options and investment education, said County Treasurer Bill Melton. After a rebidding process, the $37 million fund picked Great West to provide between 10 and 12 investment options in addition to PEBSCO's current 10 choices.
P&I Daily will not be published Dec. 24-26 and Dec. 29-Jan. 2. Publication will resume Jan. 5. Happy holidays