Bowne & Co., New York, may terminate Fiduciary Trust because of personnel turnover, said William Coote, treasurer. The manager handles $23 million in active domestic small-cap growth equities for the $72 million defined benefit plan.
The company also added the Davis Select New York Venture Fund as the seventh option in its $200 million profit-sharing plan. The fund was added for diversification and because of its good performance, said Mr. Coote, who added that it also might add the Davis Select Large-Cap Fund; a decision will be made this fall. Bownes plan is to make the options in its profit-sharing and $14 million 401(k) plans more similar, said Mr. Coote. The 401(k) plan also has seven options, four of which are similar to options in the profit-sharing plan. Vanguard is administrator, record keeper and trustee for both plans.