Waterford (Mich.) Township General Employees Retirement System named finalists in its search for an active domestic fixed-income manager to handle $17 million, said Nancy Smith, chairwoman for the $37 million plan. They are: Banc One Investment Advisors; Denver Investment Advisors; Munder Capital Management; and Seix Investment Advisors.
Funding will come from eliminating the fixed-income allocations of two existing balanced managers. Bartletts portfolio will be reduced by $9.7 million, leaving it with $7.5 million in active domestic multi-cap value equities. Wilson Kemps portfolio will be cut by $7.5 million, leaving it with $9.7 million in active domestic large-cap growth equities. The board wants a manager that focuses solely on fixed income, Ms. Smith said.
A selection should be made by June 20, she said.