American Airlines has three money managers running paper portfolios of international equities in its search for a new international equity fund manager. The managers are Lazard Asset Management, Invista Capital Management and INVESCO.
William Quinn, president of AMR Investment Management, which oversees the $11 billion pension fund, said the new manager will receive ``at least'' $100 million after a decision is made in March.
Funding will come from other managers, he said.
The winner could get more money ``depending on what's happening with our other managers,'' Mr. Quinn said.