CHICAGO -- ABN AMRO changed the mandate of one of its small-cap mutual funds and hired Delaware Investments as a subadviser.
The $44 million ABN AMRO Small Cap Fund now combines growth and value strategies. It had been managed with a growth-only bias.
ABN AMRO also hired Mellon Equity Associates to subadvise its $151 million Value Fund.
Both funds were internally managed.
Morningstar Associates Institutional Investment Consulting assisted.
Chicago Hospital Risk
CHICAGO -- The Chicago Hospital Risk Pooling Program hired Scudder Kemper as a domestic large-cap value manager to manage $25 million, said Ken Skertich, trust administrator.
The funding will come from Putnam, which manages a U.S. large-cap growth equity portfolio that will total about $25 million after the Scudder portfolio is funded. Putnam had been the $225 million hospital liability fund's sole equity manager since 1997, Mr. Skertich said.
Los Angeles City
LOS ANGELES -- The Los Angeles City Employees' Retirement System Board has directed staff to renegotiate J.P. Morgan Investment Management's three-year contract, which will expire in April. J.P. Morgan runs a $682 million S&P 500 enhanced index portfolio for the $7 billion fund.
The board also approved investing up to $25 million in GTCR Fund VII, an industry consolidation strategy.
Massachusetts Deferred Comp
BOSTON -- The state's $2.6 billion 457 Deferred Compensation Plan will add seven investment options June 1, bringing the number of options to 15. Aetna Financial Services will be the new provider of administration and record keeping services, replacing Copeland.
The new fund options are: bond index; actively managed; small-cap index; international index; and three lifecycle funds in conservative, moderate and aggressive investing styles.
The plan will continue to offer participants life insurance, stable value, balanced, money market, S&P 500 stock index, active large-cap growth, active small-cap growth and active international equity funds, said Dwight Robson, a spokesman for state Treasurer Shannon P. O'Brien.
The plan also intends to add emerging market and sector funds in the next few years, Mr. Robson said. Aetna was selected to replace Copeland because it offered services including five additional regional offices and lower fees, he said.
Calls to Copeland were not returned by deadline.
SCHAUMBURG, Ill. -- Motorola Inc. chose Northern Trust Co. to administer its $9.8 billion in retirement assets. The defined benefit and defined contribution plans had been administered internally, said Rick Dorazil, vice president, global rewards.
Motorola selected Northern Trust after conducting its own search for an administrator that could provide pension modeling through the Internet.
Northern Trust had served as a trustee to Motorola's pension plan.
Oklahoma State Insurance
OKLAHOMA CITY -- The Oklahoma State Insurance Fund hired Pinnacle Associates to manage a $50 million small-cap to midcap domestic equity portfolio.
The asset class is new for the $750 million fund, said Harry Rosengrants, chairman of the investment committee.
Asset Consulting Group assisted.
MALVERN, Pa. -- The Vanguard Equity Income Fund trustees hired Wellington to replace Spare, Kaplan, Bischel as one of the fund's three subadvisers. The amount of the mandate was not provided. The change was made to fine-tune the fund's investment management mix and was not performance related, said John S. Woerth, a company spokesman. Wellington will use a more fundamental approach than Spare, Kaplan, focusing on stocks with reasonable yields and the possibility of growing dividends. Spare, Kaplan's approach was too similar to that used by another of the fund's subadvisers, Newell Associates, Mr. Woerth said.
John A. Levin remains the fund's third subadviser.