Columbus (Ohio) Medical Association Foundation hired four active domestic managers, said Brandon Evans, investment manager for the $75 million foundation. MDL Capital Management will run $11 million in fixed income; Columbia Management, $5.2 million, small-cap growth equities; Lotsoff Capital Management, $5.2 million, small-cap value equities; and Banc One Investment, $11 million, core fixed income.
The foundation also is conducting an invitation-only search for an active international growth manager to run $5.1 million, said Mr. Evans. The mandate will balance out a $5.1 million active international value equity portfolio Brandes Investment Partners manages for the foundation. Mr. Evans would not name the eight managers being considered.
Funding for all the hirings will come from the termination of several managers Mr. Evans did not name. Changes were made because of an asset allocation study conducted by consultant William Mercer, he said.
A selection will be made in late summer or fall.