Presbyterian Church in America, Atlanta, switched INVESCO’s benchmark for a $6 million active domestic large-cap value portfolio to the Russell 1000 value index from the S&P 500 index, said James Hughes, director of insurance, annuity and relief funds. The church has a 401(a) and a 403(b) plan, which total $167 million; the plans have the same 10 investment options.
The changes were made to provide a better balance with Alliance Capital Management’s $5 million active domestic large-cap growth core equity portfolio, which is benchmarked to the Russell 1000 value index.
Administrative duties are handled in-house. Benefits Services Corp. is record keeper, and First Union is custodian.
