Workers Compensation Reinsurance Association, St. Paul, Minn., is conducting an invitation-only search for an active domestic fixed-income manager to run $100 million, said Keith Summers, investment manager of the $1.4 billion investment pool. Funding will come from rebalancing. Invitations have been sent to managers, and proposals have been narrowed down, said Mr. Summers. A decision will be made in June, he said.
The association also changed its domestic equity allocation to 100% benchmarked to the Russell 3000 index, from 70% Russell 1000 index and 30% Russell 2000 index, he said. No managers will be terminated, he added.