City of Fitchburg (Mass.) Retirement System picked ARM Capital, Sirach Capital, Allmerica and Wellington as finalists in its search for a core fixed-income manager. The $65 million fund also picked Aeltus, State Street Global Advisors, Wellington, 1838 Investment Advisors and Family Bank as finalists in its search for a core domestic equity manager, said Kevin Leonard, the Segal Advisors consultant who is assisting. The searches were prompted by a new asset allocation.
Meanwhile, the fund has hired State Street Bank and Trust as its new custodian to replace the Family Bank.