Plumbers & Steamfitters Local 630, West Palm Beach, Fla., hired Strong Capital Management to run $10 million in active domestic core fixed income for the $80 million pension fund, said Owen Culpepper, chairman of trustees.
Funding came from terminating Loomis Sayles, which managed $10 million in a similar style, due to performance, he said. Chris Lazzaro, vice president of public relations for Loomis Sayles, declined comment on the termination.
The plan’s asset allocation is 65% equities and 35% fixed income.
