Alabama Trust Fund, Montgomery, hired five domestic fixed-income managers, moving to a multimanager approach from a sole manager one for the $1.2 billion fund. Conseco Capital Management and Salomon Smith Barney Capital Management each will manage 27% of the fund; South Trust Asset Management and Sterne Agee, 21% each; and AmSouth Bank, 4%. Funding will come from terminating Wellington Management.
Alabama Trust Fund, Montgomery, hired five domestic fixed-income...
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