Waltham (Mass.) Contributory Retirement System hired an entire stable of money managers following a recent asset allocation study. The $121 million fund hired the following equity managers: Freedom Capital to run $10 million, large-cap value; Cutler, $10.8 million, large-cap value; Essex, $14.8 million, midcap and small-cap growth; Hutchins Investment Management, $9.1 million, midcap value; Earnest Partners, $7.1 million, small-cap value; State Street Global Advisors and Irish Life, $6.5 million each, international. For fixed-income, the system hired: Brundage, Story & Rose, $20 million, and Standard Group Holdings, $10 million in domestic high-grade; Penn Capital Management, $5.9 million, high-yield domestic; and Wellington, $5.9 million, international. For real estate, the system hired: TA Realty and the Tuckerman Group, $2.8 million each; the New Boston Fund, $2.5 million; and Geometry Realty, $2 million. For alternative investments, the system hired: INVESCO, $4 million in a fund of funds; and Ascent Capital and Angelo Gordon, $3 million each, distressed securities. The systems assets had been parked in index funds with State Street Global Advisors. Wainwright Investment Counsel assisted.
Waltham (Mass.) Contributory Retirement System hired an entire stable...
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