Sheet Metal Workers, Local 20, Indianapolis, with $70 million in pension assets, hired INVESCO to run $20 million in a domestic stock and bond account, as well as Conseco to manage $9 million in domestic midcap equities, said Craig Dobbs, first vice president with Merrill Lynch Consulting Services, the fund’s consultant. The fund terminated Oppenheimer, a domestic equity manager, for performance-related reasons, Mr. Dobbs said. Colin Glinsman, Oppenheimer CIO, said he would not comment on the termination. Funding comes from the Oppenheimer portfolio.
Separately, the Gary, Ind., division of Local 20, with $50 million in pension assets, hired McMorgan to manage $20 million in a core equity account, Mr. Dobbs said. Money came from existing managers.
