Jessie Smith Noyes Foundation, New York, will do an asset allocation study, said Stephen Viederman, president. Mercer, hired to do the study, is expected to meet with the board in April to review findings and recommendations. Mr. Viederman wouldn’t comment on what changes might ensue as a result of the study.
The $86 million fund’s current allocation, mostly screened for social investments, is: 44% domestic equities, split almost equally between active and indexed; 15% international equities, split evenly between active and indexed; 17% domestic fixed income; 1% international, dollar-denominated fixed income; 12% hedged funds; and 11% venture capital and other alternative investments.
Walt Disney Co., Burbank, Calif., will add another option to three of its defined contribution plans in June. The small-cap value fund, run by new manager Morgan Stanley, will be added to the $1.1 billion ABC 401(k), the $767 million Disney 401(k) and the $244 million ABC profit-sharing plan. In June, all the funds will have the same 11 options. In addition to the small-cap fund, they are: Fidelity S&P 500, PIMCO total return, Fidelity money market, Putnam New Opportunities, Sequoia Fund, Fidelity diversified international, Fidelity asset manager, Disney company stock options, Fidelity-Magellan and Fidelity growth and income.
