Alaska State Pension
JUNEAU, Alaska -- The Alaska State Pension Investment Board rehired Callan Associates as consultant to its $11.7 billion defined benefit plan after a previous contract expired, said Marty Lentz, liaison officer and project director.
Austin Police Retirement Fund
AUSTIN, Texas -- The $210 million Austin Police Retirement Fund hired Brinson Partners as a large-cap growth U.S. equity manager to replace MacKay-Shields, which was terminated for performance reasons, said Sam Jordan, pension administrator.
The $40 million previously managed by MacKay-Shields will fund the Brinson allocation of $32 million and additional allocations of $4 million each to existing managers Arbor Capital and Private Capital Management.
Paul Scofield, spokesman for MacKay-Shields, declined to comment on the termination.
Monroe Vos Consulting assisted.
Barnstable County
YARMOUTHPORT, Mass. -- The $250 million Barnstable County Retirement System hired J.P. Morgan and Brinson Partners as large-cap value U.S. equity managers to replace Thompson, Siegel, said Shally Shanker, the William M. Mercer consultant who is working with the fund.
Thompson, Siegel previously managed $30 million for the fund and was terminated for a variety of reasons, including performance, Ms. Shanker said.
Matthew Thompson, managing director for Thompson, Siegel, did not return calls by press time.
William M. Mercer assisted.
BC Telecom
BURNABY, B.C. -- BC Telecom Inc. hired Jarislowsky Fraser for its C$1 billion (U.S.$672 million) pension fund, said Garnet Andrews, director of investments.
The firm will be assigned C$80 million to C$100 million for Canadian value equities.
Brockhouse & Cooper assisted.
Carondelet Health System
ST. LOUIS -- Carondelet Health System's $61.5 million pension fund hired Tattersall Advisory Group to manage $20.9 million in domestic fixed income and Riggs Investment Management to manage $6.6 million in domestic, large-cap value stocks, said Tanya Rhodes, vice president of finance and controller.
Also, the Catholic, non-profit health system's $134 million investment pooled fund gave Tattersall $26.2 million for domestic fixed income, and Riggs $11.8 million in domestic, large-cap value equity. And its $30 million self-insurance trust fund hired Riggs to run $5.5 million in large-cap value.
All three funds terminated Fox Asset Management as a domestic large-cap value equities manager because of recent changes in management at the firm, she said.
PaineWebber assisted.
Champaign Police & Firemen
CHAMPAIGN, Ill. -- The $30 million Champaign Police & Firemen's Pension Fund hired MetLife as its first core international equity manager to run $1.5 million, said Pat Krolak, fund spokesman. Marquette Associates assisted.
Compass Group PLC
CHELMSFORD, England -- Compass Group PLC Pension Plan has picked Frank Russell Co. to manage its entire L135 million ($223 million) pension fund in its multimanager funds, said Jim Roberts, group pensions manager and secretary.
Previously, the assets were managed in two global balanced portfolios: L60 million with Gartmore Investment and L75 million with Mercury Asset.
Elgin Police & Fire
ELGIN, Ill. -- The $36 million Elgin Police & Fire Pension System hired Banc One Investment Advisors to run $9.5 million in domestic fixed income.
It also increased a domestic fixed-income portfolio managed by Mitchell, Vaught & Walker to $9.5 million from $2 million, said James Nowicki, treasurer.
Fiat Common
WATFORD, England -- The Fiat Common Investment Fund has selected Frank Russell Co. to manage L100 million ($165 million) in its multimanager funds, said Mel Lambert, a director of the L370 million fund.
Assets were taken from existing balanced managers Phillips & Drew and Fleming Investment Management, which previously had managed the entire fund. Mr. Lambert declined to specify how much in assets each manager runs for the fund.
Following advice from Russell consultants, the fund -- which includes pension assets from several Fiat U.K. subsidiaries -- has adjusted its asset allocation.
While keeping the overall equity allocation around three-quarters of assets, fund officials have slashed U.K. equities to a target of 45% from actual investments of 58.3% As a result, U.S. equities have been boosted to 10% from 1.6% Japanese equities to 5% from 2.6% and Pacific Basin equities to 3% from 1.7% Also emerging markets are set at 2% of assets; previously the fund had 1% in Latin American equities only.
In addition, U.K. gilts have been boosted to 19% of total assets, and indexed-linked gilts have been reduced to 6% from 9.1% The 5.6% international bond allocation has been eliminated.
Fresno City Retirement
FRESNO, Calif. -- The $1.5 billion Fresno City Retirement Systems hired Genesis Asset Managers as its first emerging markets equity manager to run a $35 million portfolio, said Stanley McDivitt, retirement administrator.
Furman University
GREENVILLE, S.C. -- Furman University hired The Mitchell Group to run $10 million in domestic energy-related equities, primarily stocks related to oil and gas, and Oaktree Capital Management to run $5 million in high-yield domestic bonds to reach targets of 7.5% and 5% respectively, said Gail Craig-Jager, controller for the $200 million endowment.
Cambridge Associates assisted.
Allan S. Goodman Inc.
HARTFORD, Conn. -- Allan S. Goodman Inc. hired New York Life Benefit Services as its record keeper and money manager for about half of the 12 investment options in its newly consolidated $8 million 401(k) plan, according to David Heller, senior vice president.
Until earlier this year, Goodman had three separate plans: two profit-sharing plans and a 401(k).
Kimball Inc.
JASPER, Ind. -- Kimball Inc. hired Barrow Hanley Mewhinney & Strauss to run $25 million in large-cap value U.S. equities and Westport Asset Management to run $20 million in small-cap value U.S. equities for its $350 million defined contribution plan, said Kenneth Sendelweck, Kimball vice president and assistant treasurer.
McDonald Consulting Advisors assisted.
Kohl's Corp.
MENOMONEE FALLS, Wis. -- Kohl's Corp. hired Putnam Investments to provide bundled services to its $132 million 401(k) plan and to serve as trustee and record keeper for its ESOP, said Don Kuglitsch, director of benefits.
New Mexico Educational
SANTA FE, N.M. -- The $6 billion New Mexico Educational Retirement Board hired Bank of Ireland to run a $300 million EAFE portfolio to diversify its fund, and retained incumbent Capital Guardian to run a $300 million EAFE portfolio, said Frank Foy, chief investment officer.
New York City Teachers
NEW YORK -- The $23.8 billion Teachers' Retirement System of the City of New York rehired consultant BARRA RogersCasey, said Jane Levine, deputy comptroller for pensions.
North Dakota State
BISMARCK, N.D. -- The $3 billion North Dakota State Investment Board hired Brinson Partners as a domestic small-cap value equity manager for the $710 million insurance trust fund.
Brinson will manage $15 million for starters in a commingled post-ventures equity fund, said Steve Cochrane, investment director. Funding will come from cash.
San Bernardino County
SAN BERNARDINO, Calif. -- The $3.2 billion San Bernardino County Employees' Retirement Association hired Brandywine Asset Management as a small-cap value U.S. equity manager, said Tim Barrett, chief financial officer.
The $90 million allocation previously was managed by Boston Co., which was terminated for performance reasons, Mr. Barrett said.
Vin Loporchio, spokesman for Boston Co., said, "We won 72 new accounts in 1998 totaling $3.5 billion. Our performance is strong when it comes to the small-cap value U.S. equity product."
Asset Strategy Consulting assisted.
San Francisco City & County
SAN FRANCISCO -- The $10 billion San Francisco City & County Employees' Retirement System committed $30 million to Lexington Capital Partners III LP, a venture capital pool investing in partnership interests available on the secondary market.
Cambridge Associates assisted.
Southfield Fire & Police
SOUTHFIELD, Mich. -- The Southfield Fire & Police Retirement System hired Baring Asset Management as its first international fixed-income manager and Oaktree Capital Management as its first high-yield bond manager to diversify its $200 million defined contribution plan, said George Vitta, the Asset Strategies consultant who is assisting. Each manager will run $9 million.
