Winter Haven Police Retirement Fund, Winter Haven, Fla., hired Oppenheimer Capital as sole manager and custodian for its $12 million in assets, said Fred DeLoach, chairman of the pension board. Oppenheimer will use an allocation of 49% equities, 50% bonds and 1% cash.
Barnett Bank Capital, the former manager and custodian, was acquired by NationsBank, which left the custodian business and closed Barnett. Tradestreet, a NationsBank unit, was among the managers considered. Foster & Foster, the board's actuary, assisted.