Indiana State Police Pension Fund, Indianapolis, with $245 million in assets, recently hired its first six outside money managers, said David Wilson, portfolio manager.
The fund plans to make the names of the managers public in August when they begin managing the assets. Until now, the fund had been managed in-house using fixed-income securities.
A total of $70 million will be allocated to the indexed, international, small-cap value, small-cap growth and large-cap value equity portfolios.
Oxford Financial Advisors assisted.
Phoenix Investment Partners named new managers from among its subsidiaries for four of its equity portfolios.
The Phoenix Small Cap Fund and Aggressive Growth Fund now will be subadvised by Roger Engemann Associates and the Phoenix Mid-Cap Fund and Equity Opportunities Fund are now subadvised by Seneca Capital Management.
The funds were managed centrally by Phoenix Investment portfolio managers. The investment mandate of each fund is unaffected by the manager changes.
Phoenix also named Christian Bertelsen the new manager of the U.S. portion of the Phoenix-Aberdeen Global Small Cap Fund, replacing Bill Newman. Mr. Newman, who left the firm in June, had managed the small-cap, midcap and the U.S. portion of the fund.
