Hawaii Masons & Plasterers Annuity Fund, Honolulu, picked Sierra Investment Partners to manage a $5 million equity value fund that is a blend of large-cap and midcap stocks, said Tom Sakai, senior vice president at Everen Securities, who is a consultant to the $25 million fund. Mr. Sakai said the money came from a fixed-income strategy that Sierra had been managing.
Hawaii Masons had been 100% invested in fixed income, but the fund's trustees decided to put 20% into equities to improve returns.
