COLUMBUS, Ohio - The Ohio Tobacco Use Prevention and Cessation Foundation hired 14 active domestic managers for its initial lineup.
Equity managers hired were: Valley Forge Asset Management, $38 million, and CIM, $15 million, both in large-cap core; Marque Millennium Capital Management, $25 million, and Fort Washington Investment Advisors, $20 million, both in large-cap value; Rittenhouse Financial Services, $18 million, Swarthmore, $34 million, and Aeltus, $18 million, all in large-cap growth; CastleArk Management, $17 million in small-cap growth; and National City Investment Management, $17 million in small-cap value. National City, which is the foundation's custodian, also will manage a $5 million cash account.
Fixed-income managers were: Banc One Investment Advisors, $20 million, and Victory Capital Management, $35 million, both in intermediate duration; and Harris Investment Management, $15 million, J.P. Morgan Fleming Asset Management, $35 million, and Boyd Watterson Asset Management, $20 million, all in core bonds.
The foundation has $332 million in assets, said Matthew McAuliffe, chief of staff for the state treasurer's office. As a result of payouts from the 1998 master settlement with large tobacco companies, total assets will reach $1.3 billion by 2012.
Salomon Smith Barney Consulting assisted.