West Virginia Investment Managment Board, Charleston, with $4.5 billion in pension and workers compensation fund assets, selected its first equity managers, to invest $900 million by the end of the year.
Starting Feb. 1, the fund will give State Street Global $450 million for an S&P 500 index portfolio and $225 million for an EAFE index portfolio, said H. Craig Slaughter, executive director. A U.S. small-cap value index portfolio with Dimensional Fund Advisors will get $225 million. Summit Strategies assisted.
By May, the fund also will have completed an asset allocation study.
Oregon Public Employes Retirement Fund, Salem, put $100 million each into a new international alternative equity ``fund of funds'' being formed by HarbourVest Partners, and an alternative equity fund organized by Joseph, Littlejohn & Levy.
The fund also placed $250 million with each of three non-U.S. equity managers: Brandes; Driehaus Capital; and Sanford Bernstein.
Funding will come from money freed up when the $27 billion fund terminated Barings and Decision Services.
Key Tronic Corp., Spokane, Wash., hired American Century Investments as bundled provider for its $14 million 401(k) plan. American Century replaces Barclays as record keeper. Key Tronic will use nine American Century funds, the Barclays S&P 500 Index Fund and a self-directed brokerage option from Charles Schwab.