Campbell-Mithun-Esty LLC, Minneapolis, hired Dodge & Cox as a core value equity manager for its $48 million 401(k) plan and to run $2.7 million in core value equity for its $27.5 million money purchase pension. The new manager replaces Brinson Partners, which was terminated because of performance, said Diane Munson, manager of capital accumulation. Officials at Brinson did not respond by press time. Brinson remains as manager of the 401(k) plans domestic fixed-income fund, Ms. Munson added.
In addition, the 401(k) plan added the Vanguard growth and income fund as its ninth investment option. The other six options are: Wells Fargo Bank Collectors trust fund; Montag & Caldwell growth fund; Vanguard 500 index fund; Vanguard midcap index fund; BlackRock small-cap growth fund; and Templeton international equity fund. Wells Fargo serves as record keeper and trustee for the 401(k) plan; administration is handled in-house.