Balch & Bingham LLP, Birmingham, Ala., is considering changing its large-cap U.S. equity portfolio style from value to growth to diversify its $25 million money purchase plan, said William Shanks, administrator and chairman of the retirement committee. Funding will come from terminating Munder Capital Management, an $8 million large-cap value manager, said Mr. Shanks. Performance is not an issue, he added. A decision is expected by October. Separately, Kayne Anderson Investment Management was hired to replace Vanguard as a $3 million international equity manager for its $29 million self-directed 401(k) plan, said Mr. Shanks. Performance was not an issue, he added. Kayne is now the sole manager for the plan, also running $3 million in small-cap U.S. equity and $23 million in a balanced account.