Augustana College, Sioux Falls, S.D., hired Deutsche Bank as consultant and custodian for its $30 million endowment, replacing US Bank, said Loren Koepsell, college budget director. The fund also will add five Deutsche mutual funds, replacing seven funds from US Bank, said Mr. Koepsell. The new funds are: Euro Pacific, $3 million; Delaware Trend A, $3 million; MFS Midcap Growth A, $3 million; and Growth Fund of America and Davis New York Venture A, $5.6 million each.
The endowment also hired US Bank subsidiary First American Asset Management to run $9 million in active global fixed income, replacing US Bank, which managed the money in a passive domestic fixed-income portfolio, said Mr. Koepsell.
He would not say why the changes were made.