Toyota Motor Sales USA Pension Plan, Torrance, Calif., hired Advanced Investment Management to run $25 million in enhanced core indexed equities. Funding comes from a passive S&P 500 portfolio managed by Northern Trust, which was terminated because of this switch in strategy.
Separately, the $340 million plan may seek a manager to run $15 million in active domestic aggressive growth small-cap and midcap equities in the fourth quarter, said Ian Harper, manager-pension and savings plans. The firm will not start meeting with potential managers until the end of September, he said.
InvestorForce is assisting in both searches.
