Dana Corp., Toledo, Ohio, terminated a large-cap growth manager in a move to boost its long-term Treasury portfolio.
Ralph Lipford, vice president-investment management, would not identify the manager terminated. The firm managed about $300 million. The $2 billion defined benefit plan has a total equity portfolio of $1.4 billion. The assets are in the process of being brought in-house for management.
After the transition is complete, the bond portfolio will make up 34% of total assets.
