Retirement plans continue to hold more than 35% of mutual fund assets, according to the Investment Company Institute.
In 1997, retirement plans held 35.5% of mutual fund assets, up slightly from 35.3% in 1996, ICI found.
Montana Board of Investment, Helena, is down to three finalists in its search for a European equity manager. They are: Morgan Stanley Asset Management, Pyrford International and Paribas Asset Management. James P. Penner, CIO, said the amount to be placed in the European portfolio is undetermined. A final selection will be made at the board's July 27 meeting.
No consultant is being used in the search.
The Montana board has $4.3 billion in assets, of which 98% is managed in-house.
