American Color Graphics Inc., Brentwood, Tenn., restructured its $39 million defined benefit plan, hiring five managers and a trustee, said Floyd Childress, assistant treasurer.
Managers hired were: Putnam Investments, $10.8 million in core growth equities; Fidelity, $3.9 million in small-cap equities; State Street Global and Templeton, both for $2.9 million of international equities; and Miller Anderson & Sherrerd, $4.8 million in core bonds. Wachovia Bank was selected as the plan's first outside trustee.
Alliance Capital, which previously managed the whole fund, will continue to run $10.8 million in S&P 500 indexed assets. BARRA RogersCasey assisted.