Alaskan Laborers-Employers Trust, Anchorage, hired McKinley Capital to manage $10 million in active domestic midcap growth equities. It also allocated $10 million to Washington Capitals property investment trust. And the $560 million trust will increase Pacific Financials active domestic midcap to large-cap growth equity portfolio by $10 million, to $20 million; and Sirachs active domestic core growth equity portfolio by $80 million, to $220 million.
Funding for the new allocations comes from Kennedy Associates, which is closing its equity and fixed-income management business to focus solely on real estate, said Joe Thomas, secretary of the trust. About 60% of Kennedys portfolio was in active domestic equities, mostly in large-cap equities. The balance was in active domestic fixed income.
Morgan Stanley Dean Witter assisted.