Servants of the Holy Heart of Mary, Kankakee, Ill., hired five new managers to replace Brinson Partners, which had managed its combined retirement and ministry funds using a balanced approach. The new managers are: William Blair, large-cap growth equity, $4 million; Tattersall, domestic fixed income, $10.4 million; Thomas White, large-cap value equity, $2 million; Miller Anderson & Sherrerd, small-cap value, $1 million; and Murray Johnstone, international equities, $2 million. The rest of the $20 million fund will be managed as cash. Thomas White will manage its portfolio in a socially responsible manner per the organizations instructions.
The termination largely was due to poor performance and the asset allocation choice of Brinson, said David Kennedy, consultant to the fund. Brinson officials did not return calls for comment by press time.