Advocate Healthcare
OAK BROOK, Ill. -- Advocate Healthcare hired Metropolitan West Asset Management to manage a $100 million intermediate duration fixed-income portfolio in its marketable investment program, said Ray Koca, Advocate's director of finance.
He declined to give any details about the program, including its assets.
Aetna Life Insurance
HARTFORD, Conn. -- Aetna Life Insurance hired State Street Corp. to provide custody for $19 billion in invested insurance assets. State Street has $5 trillion in total assets under custody.
State Street will provide trade settlement, income collection and corporate action notification. Cash collateral reinvestment services for lendable assets will be handled by State Street's investment management arm, State Street Global Advisors.
Alameda County Employees
OAKLAND, Calif. -- The Alameda County Employees' Retirement System selected State Street Bank & Trust as its new custodian.
Bank of New York previously was the $3.3 billion fund's custodian. Finalists were Northern Trust, State Street Bank & Trust, Mellon Trust and Bank of New York.
Callan Associates is assisted.
American Honda
TORRANCE, Calif. -- American Honda hired Fidelity Institutional Retirement Services to be the bundled provider for its 401(k) plan as of July 1, said Natalie Enoki, manager of compensation, benefits and payroll.
About 3,700 of Honda's 5,100 eligible employees participate in the $227 million 401(k) plan. Honda also expanded the number of investment options in the plan to 14 from eight, including five of Fidelity's lifecycle portfolios, called Freedom Funds, Ms. Enoki said. Honda is keeping three funds -- PIMCO Total Return, Templeton Foreign fund and MFS Emerging Growth -- which it is getting through Fidelity's alliances, she added.
Honda's plan is now unbundled, she said. Towers Perrin is record keeper, Northern Trust is trustee and Merrill Lynch provides all of the investment options, Ms. Enoki said.
Central Bank of Brazil
BRASILIA, Brazil -- Brazil's Central Bank hired six institutions to manage $200 million each -- part of the bank's $43.4 billion in international reserves.
Hired were: Bank of International Settlements, Barclays Global Investors, Credit Suisse Asset Management, Robeco Institutional Asset Management, J.P. Morgan Investment Management and Salomon Brothers.
Royal Trust of Canada was hired as custodian for the $1.2 billion.
Children's Hospital
DENVER -- Children's Hospital hired Metropolitan West to run a $22 million fixed-income portfolio and PIMCO to manage a fixed-income portfolio for the hospital's investment funds, said Mary Jo Yantis, a hospital executive.
The hospital also hired two managers at the end of the year to manage equity portfolios: Sanford C. Bernstein and Marsico Capital Management. She declined to reveal total hospital assets or the mandates of the other managers.
Dearborn Bancorp Inc.
DEARBORN, Mich. -- Dearborn Bancorp Inc. hired Fifth Third Bank to provide custody services for its $124 million in pension plan assets.
Fifth Third's custody services include safekeeping of assets, trade settlements, income collection and reporting.
Deborah Heart and Lung
BROWN MILLS, N.J. -- Deborah Heart and Lung Center hired 1838 Investment Advisors to run $10 million in domestic large-cap stocks with a growth emphasis for its $30 million defined benefit plan, said Chris Nasto, controller.
Mr. Nasto said the new manager will replace Beutel Goodman Capital Management, a previous large-cap value manager. The hiring was the result of a style change, not performance-related, said Mr. Nasto.
City of Flint
FLINT, Mich. -- The City of Flint Employees' Retirement System hired Dresdner RCM Global to run $50 million in large-cap growth U.S. equity; and Wellington Management and Highmark Capital Management as core small-cap U.S. equity managers, running $60 million and $10 million, respectively, said Art Fenton, consultant to the $750 million fund.
Funding will come from a $150 million large-cap value U.S. equity portfolio previously managed by Delaware Investment Advisors, which was terminated for performance reasons, he said.
"We would prefer not to comment on this matter," said Karina J. Istvan, a Delaware spokeswoman.
Callan Associates assisted.
Fort Lauderdale Employees
FORT LAUDERDALE, Fla. -- The Fort Lauderdale General Employees' Retirement System hired State Street Global Advisors to run $20 million in a Russell 1000 value index mutual fund, said Dorothy Holt, pension administrator for the $263 million fund.
Funding came from reducing a $40 million large-cap value U.S. equity portfolio managed by Loomis, Sayles.
Officials from Loomis, Sayles did not comment on the reallocation.
Harrington Foundation
AMARILLO, Texas -- The Don & Sybil Harrington Foundation hired INVESCO and Nicholas-Applegate to each manage one domestic bond and one domestic equity portfolio to diversify its $90 million foundation, said Stephanie Jones, finance director.
Portfolio sizes, styles and funding sources were not available.
Prudential Securities assisted.
Hartwick College
ONEONTA, N.Y. -- Hartwick College hired Boston Partners as a $9.9 million midcap value U.S. equity manager; Silchester International Investors as a $6.5 million international equity manager with a growth emphasis; and Harbor Capital Advisors as a $2.6 million international equity manager with a value emphasis for its $77 million endowment, said Susan Stetson, business manager.
Boston Partners replaces Clover Capital Management, which previously ran $9.3 million; Silchester International replaces Warburg Pincus Asset Management, which previously ran $6 million; and Harbor Capital was hired for diversification.
Funding for Harbor Capital came from rebalancing; the additional money given to Boston Partners and Silchester International also came from rebalancing.
Both replacements were due to unsatisfactory performance, Ms. Stetson said.
Michael Jones, managing director for Clover Capital, said, "we met their needs for five years, but unfortunately we weren't able to keep up with what they wanted this year."
Brady Lipp, managing director for Warburg Pincus, was unavailable for comment.
Prime Buchholz assisted.
Hawaiian Host Inc.
HONOLULU -- Hawaiian Host Inc. hired Diversified Investment Advisors to provide bundled services for the company's new $5 million 401(k) plan, said Stacey Nakasone, Hawaiian Host human resources manager.
The company is converting its profit-sharing plan because "we wanted a more competitive benefit," she said.
The conversion to a 401(k) plan will happen July 1, but Hawaiian Host executives have not yet selected the menu of investment options, she said.
Iron Workers District Council
DORCHESTER, Mass. -- Iron Workers District Council of New England Annuity Fund added two new funds and replaced two other options in its $105 million self-directed defined contribution plan.
The new options are Legg Mason Value Navigator Fund and the MFS Union Standard Equity Fund.
The Trust Advisors Stable Value Fund replaces the SEI Stable Asset Fund. The change was part of the transition in record keeping and custody services -- to Columbus Circle from SEI -- made earlier this year, said Chuck Humphrey of C.E. Humphrey Associates, consultant to the $108 million fund.
Trustees also dropped the Barr Rosenberg U.S. Small-Cap Value Fund, which is closed to new investors, in favor of the Jundt U.S. Emerging Growth Fund.
The fund now has a total of 10 investment options.
Kansas Public Employees
TOPEKA, Kan. -- The Kansas Public Employees' Retirement System hired Barclays Global Investors to run a $260 million small-cap U.S. equity portfolio to help increase its small-cap exposure to 15% from 11% said Scott Peppard, assistant investment officer for the $9.2 billion fund.
Funding for the mandate will come from reducing large-cap U.S. equity investments.
Pension Consulting Alliance assisted.
L.A. Metropolitan Transit
LOS ANGELES -- The Los Angeles Metropolitan Transit Authority hired Snyder Capital Management to run a $25 million small-cap value equities portfolio, according to Donna Mills, senior investment manager.
In January, officials at the $640 million pension plan terminated Amerindo Investment Advisors, which had managed a $26 million small-cap growth portfolio, and the funding came from there, she said. All of the small-cap investments in MTA's plan had been in growth, and Amerindo had managed an aggressive portfolio that concentrated on technology stocks, Ms. Mills said. Board members decided to reduce risk and diversify the fund's small-cap exposure by including a value portfolio, she added.
University of Mississippi
OXFORD, Miss. -- The University of Mississippi Foundation hired Fund Evaluation Group as its first consultant for its $220 million endowment, said Don Fruge, president.
Missouri State Employees
JEFFERSON CITY, Mo. -- The $5 billion Missouri State Employees' Retirement Association hired two active all-cap domestic managers -- Southeastern Asset Management, a pure value manager, and Oak Associates, a growth manager -- to each run between $100 million and $125 million, said Rick Dahl, chief investment officer.
The two managers complement each other and have good long-term track records relative to the market, Mr. Dahl said. The fund's benchmark is the Russell 3000.
The system retained Zak Capital and Capital Guardian, which fit the fund's concentrated all-cap style, Mr. Dahl said.
Funding will come from a $1.6 billion passive S&P 500 index fund that is managed in-house.
Summit Strategies assisted.
City of Newington
NEWINGTON, Conn. -- The City of Newington hired PaineWebber as consultant for its $42 million defined benefit plan, said William Hogan, director of finance.
The contract had expired with prior consultant CIGNA, which rebid, he said. CIGNA continues to manage domestic equity, domestic fixed income, international fixed income and international equity portfolios, he said. Portfolio sizes were not available.
New Mexico Educational
SANTA FE, N.M. -- The $6.3 billion New Mexico Educational Retirement Board hired Putnam as its new core large-cap U.S. equity manager to run $1.3 billion, said Frank Foy, chief investment officer.
Mr. Foy, who declined to discuss the reason for the search, did say performance was not an issue.
Putnam replaces Wellington Management, which rebid for the allocation.
New York State Deferred
ALBANY, N.Y. -- The New York State Deferred Compensation Board hired Brundage, Story & Rose to manage a $100 million stable value portfolio. The account was funded by a maturing guaranteed investment contract, said Linda Schlissel of Evaluation Associates, the $4.2 billion fund's consultant.
Oklahoma Law Enforcement
OKLAHOMA CITY -- Oklahoma Law Enforcement Retirement System hired State Street Global Advisors to temporarily run $20 million in an S&P 500 index fund after terminating George D. Bjurman & Associates, a small-cap growth U.S. equity manager for performance reasons, said Mary E. Hanning, executive director for the $450 million fund.
An RFP for a replacement small-cap growth manager will be issued sometime in June, said Ms. Hanning.
Andrew Bjurman, president and chief executive officer for Bjurman, did not return phone calls by press time.
Pennsylvania Public School
HARRISBURG -- The Pennsylvania Public School Employees' Retirement System committed $200 million to DLJ Real Estate Capital Partners II and $37.5 million to StarVest Partners, said John Lane, chief investment officer.
Funding for both will come from cash flow, he said, adding the $46.5 billion fund's investment in each will not exceed 25%of the total raised by each partnership.
The board also invested $250 million in the Global Capital Management Group's REIT, Mr. Lane said. Funding will come from an internally managed REIT.
The board also put up for sale its Pacific Island Apartments in Las Vegas for $27.9 million, he said.
Public Broadcasting Service
ALEXANDRIA, Va. -- The Public Broadcasting Service hired Metropolitan West Asset Management to manage a $47 million limited-duration core fixed-income portfolio for its operating fund, said Nanette Dudar, vice president of finance and treasurer.
PBS' operating fund fluctuates throughout the year and may vary from $70 million to $160 million, she said.
Evaluation Associates assisted.
SEI Investments
OAKS, Pa. -- SEI Investments hired Artisan Partners and Sawgrass Asset Management as new small-cap equity managers for its manager-of-managers program, said Peter Young, the senior investment analyst in charge of the $1.2 billion in manager-of-manager small-cap investments, of which $350 million is tax-exempt.
The subadvisers' allocations haven't been determined, but both will manage institutional accounts.
Artisan replaces 1838 Investment Advisors, which was terminated.
Sawgrass is an additional manager, bringing the total to 11.
Temple Firemen's Pension
TEMPLE, Texas -- The Temple Firemen's Pension Fund hired Dain Rauscher as its consultant. The firm replaces Merrill Lynch, which did not rebid after its contract expired, said Stacey Reisner, treasury manager.
The first order of business for Dain Rauscher will be a manager review for the $16 million fund, Ms. Reisner said.
Toyota Motor Sales U.S.A.
TORRANCE, Calif. -- Toyota Motor Sales U.S.A. increased its options to 12 from nine for its $384 million 401(k) plan, said Kirk Belinfanti, manager of the pension and savings plan.
The three funds added were: Vanguard Growth Fund; Vanguard Small-Cap Index Fund; and Neuberger Berman Partners Trust Fund.
U.S. Catholic Conference
WASHINGTON -- The U.S. Catholic Conference hired Metropolitan West to manage a $36 million intermediate duration bond mandate, said Ken Korotky, chief financial officer.
Metropolitan West's mandate includes $6 million for its $37 million defined benefit pension plan and $30 million of regular operating assets, he said.
City of Wethersfield
WETHERSFIELD, Conn. -- City of Wethersfield hired Osprey Capital Management to replace Fox Asset Management as a $6 million domestic fixed-income manager for its $47 million defined benefit plan, said Joseph Swetsky, finance director.
First Albany, the fund's consultant, recommended the change after Fox Asset experienced staff turnover, Mr. Swetsky said.
Dorann Cafaro, director of client services for Fox Asset, said, "We will continue to provide quality service to our clients just as we have in the past."
World Bank
WASHINGTON -- The World Bank hired Boston Partners as a domestic midcap equity manager to run $150 million to $160 million.
The $10 billion pension fund also is looking to increase its exposure to private equity, now around 4% over time
