Oregon Province for the Society of Jesus, Portland, hired Heartland Advisors to manage a $5 million active small-cap value domestic equity portfolio for its investment pool, replacing Equitable Securities. Equitable, which has been purchased by SunTrust, was terminated because of performance concerns and personnel turnover, said William Lockyear, CFO. He would not provide the pools total assets.
Barry Colling, first vice president of corporate communications at SunTrust, would not comment on the termination.
The pool also invested $5 million in the Fremont Fund. Funding comes from recent contributions.