City of Tampa (Fla.) General Employees' Retirement Fund hired Benson Associates and Wellington Management as its first small-cap growth managers and will increase the initial allocation from $16 million to $30 million, said Paul Broughton, administrator to the $450 million fund.
Benson will manage $10 million and Wellington will manage $20 million. Funding will come from reducing two large-cap portfolios, he said.
INVESCO manages a $100 million value portfolio and Sirach Capital manages a $100 million growth portfolio.
Merced County (Calif.) Employees' Retirement Association picked five finalists to fill an opening for one international equity manager, said Bill Smith, plan administrator. The manager would run up to 6% of the $270 million fund's assets.
This is Merced County Employees' first international equity manager, Mr. Smith said. Finalists will be interviewed at the fund's next board meeting, Oct. 8., and a decision should immediately follow. Mr. Smith declined to name finalists.
The allocation will come from reduction in fixed income, he said.
Dorn, Helliesen & Cottle is assisting
