Acordis, Louisville, Ky., hired six managers for its $43 million defined benefit plan. They are: Davis Selected, active domestic large-cap value equities; Furman Selz, active domestic intermediate-duration fixed income; Van Kampen, active domestic total-return fixed income; Nicholas-Applegate, active global equities; Roxbury Capital, active domestic large-cap growth equities; and Provident Investment, active domestic midcap growth equities. Portfolio sizes have not been established, said Rod Thomas, benefits director, but target allocations have been established: 25% active domestic intermediate-duration fixed income; 17.5% active domestic large-cap value equity; 17.5% active domestic large-cap growth equity; 15% active domestic total-return fixed income; 15% active global equity; and 10% active domestic midcap growth equity.
Acordis also is adding the Lord Abbett midcap value fund as the 11th option in its $40 million 401(k) plan. The option was added for diversification, Mr. Thomas said.