SEARCHES & HIRINGS
Houston Municipal Employees' Pension System committed a total of $90 million to two REIT managers, said David Long, executive director of the $1.1 billion fund. Alliance Capital Management and John McStay Investment Counsel each will receive $45 million, said Mr. Lane.
The commitments will be funded from cash, Mr. Lane said.
Baton Rouge & Parish of East Baton Rouge Retirement System, Louisiana, hired BlackRock and Western Asset as core U.S. fixed-income managers to split a $120 million portfolio.
The $718 million pension fund terminated long-term bond manager Lincoln Capital, core bond manager McMurrey Investment and enhanced bond index manager State Street Global, in a move to a ''different investment policy,'' said Jeffrey Yates, retirement administrator.
Summit Strategies assisted.
A.O. Smith Corp., Milwaukee, hired Marshall & Ilsley as record keeper for its $150 million profit-sharing plan.
The firm replaces Hewitt, which told officials it would no longer provide services for the plan after March 31, said Pat Ackerman, assistant treasurer at A.O. Smith. The search was done in-house.
Energetic Solutions Inc., Dallas, hired J.P. Morgan/American Century Retirement Plan Services to provide record-keeping, communications and investment services for its $23 million defined contribution plan.
Participants will have seven American Century Fund choices. Hewitt had provided record keeping previously. No other information was available.
American AAdvantage Funds hired subadvisers to manage two new mutual funds.
Bankers Trust will manage the S&P 500 index fund. Barrow, Hanley, Mewhinney & Strauss will join AMR Investment Services in managing the new Intermediate Bond Fund.
AMR also renamed the Limited-Term Income Fund to the Short-Term Bond Fund, to more closely reflect its investment policy. AMR manages the fund internally