CHICAGO - Atlas Material Testing Technology added the Dodge & Cox Stock Fund as an option in its $13.5 million profit-sharing plan with 401(k) feature, said Bob Till, general manager, human resources. The plan dropped the Scudder Growth & Income fund; the firm's pension committee members thought the fund's returns were below expectations.
Basell North America
WILMINGTON, Del. - Basell North America Inc. added the John Hancock Small-Cap Equity Fund as an investment option in its $295 million 401(k) plan, said Deborah A. Wersinger, manager-compensation and benefits. The change was made because the plan's previous small-cap option had become a small-cap to midcap fund. The plan now has 11 options.
Buckeye Pipe Line Services
ALLENTOWN, Pa. - Buckeye Pipe Line Services Co. added the PIMCO Total Return, Janus Advisor Growth, American Century Small-Cap Value and the American Value Portfolio funds as investment options in its $102 million 401(k) plan, said Barry Bortz, manager-public reporting. The plan also dropped the Credit Suisse Institutional U.S. Core Equity Fund, because the fund had changed style and goals. J.P. Morgan/American Century Retirement Plan Services is bundled provider. Buck Consultants advised.
HARRISBURG, Pa.- Dauphin County hired Principal Financial Group as investment provider and administrator of its $10 million 457 plan, effective May 1, said Sharon Ludwig, manager-benefits and compensation. Principal replaces Nationwide and Hartford, because plan officials wanted one administrator and service provider with lower fees, she said. Principal will provide 28 investment options
WORCESTER, Mass. - Fallon Clinic Inc. added the Ariel Appreciation Fund as an investment option in its $79 million 401(k)/profit-sharing plan, raising the total options offered to 12. Putnam is record keeper, trustee and investment provider; administration duties are shared by Fallon and Putnam. Prime Buchholz advised.
Hardin Memorial Hospital
ELIZABETHTOWN, Ky. - Hardin Memorial Hospital hired Diversified Investment Advisors as sole investment manager of its $28 million pension plan, said Tony Welch, vice president of human resources. The plan terminated PNC Bank, which managed $16.8 million in equities, and Banc One Investment Advisors, which ran $11.2 million in fixed income, both because of performance. Michael D. Moll, spokesman for PNC Bank, did not return calls by press time. Julie Crothers, marketing manager with Banc One, declined comment.
William M. Mercer advised.
NEW YORK - Haven Fund directors hired Tocqueville Asset Management to run the $80 million mutual fund, replacing Haven Capital Management. Colin Ferenbach, the fund's manager, left Haven and joined Tocqueville in February as managing director and portfolio manager. Mr. Ferenbach will continue to manage the fund using the same midcap GARP style, said Robert W. Kleinschmidt, Tocqueville president and CIO.
Kightlinger & Gray
INDIANAPOLIS - Kightlinger & Gray, Indianapolis, hired Diversified Investment Advisors as semibundled provider for its $10 million 401(k) plan, said Gayle Rader, assistant administrator. Diversified will provide 18 investment options. Merrill Lynch was semibundled provider, offering 18 options.
Knights of Columbus
NEW HAVEN, Conn. - Knights of Columbus Supreme Council hired Vanguard as bundled provider for its $27 million 401(k) plan for home office management employees and its $3 million 401(k) plan for general agents and field agents, said Thomas Lynch, director of human resources. Vanguard replaced Dreyfus as bundled provider to cut costs, Mr. Lynch said. Vanguard will provide at least nine investment options, which have not yet been determined, said Mr. Lynch. Dreyfus offered nine options.
Lindner Asset Management
ST. LOUIS - Lindner Asset Management hired Argent Capital Management as subadviser of the $246 million Lindner Growth & Income Fund and temporary subadviser of the $11 million Lindner Communications Fund. Spokeswoman Nancy Kreusser said a permanent subadviser for the communications fund will be named later this month.
Lindner also hired Standish Mellon as subadviser of its $9.8 million market neutral mutual fund.
All three funds were managed internally.
Missouri Local Government
JEFERSON CITY, Mo. - Missouri Local Government Employees' Retirement System hired Strong Capital Management to run $200 million in active domestic large-cap growth equities, said Keith E. Hughes, assistant director and controller. The $2.5 billion pension plan funded the hire by reducing a passive S&P 500 index portfolio, managed by Barclays Global Investors, to $115 million. Mr. Hughes said plan officials wanted more active management. The fund's asset allocation is 70% equity and 30% fixed income. Summit Strategies advised.
National Basketball Association
SECAUCUS, N.J. - The National Basketball Association hired MDL Capital to manage $20 million in active domestic core fixed income for its players' $140 million pension plan. Meryl Steinberg, benefits coordinator, confirmed the hiring but would not provide further information.
INDIANAPOLIS - The National Collegiate Athletic Association hired MDL Capital to run $7.5 million in active domestic core fixed income for its $43 million reserve fund, said James L. Isch, vice president, finance and information services. Funding came from PIMCO, which had managed the entire fund in active domestic core fixed income; it now handles $36.5 million. PIMCO has done an "excellent job," Mr. Isch said, but NCAA officials felt it was necessary to hire a second manager.
Nissan North America
GARDENA, Calif. - Nissan North America Inc. hired MDL Capital to manage $5 million in active domestic core fixed income for its $245 million pension plan, said William Scott, corporate manager-finance. Also, Nissan North America Manufacturing, Smyrna, Tenn., hired MDL to run $5 million in the same style for its $191 million pension plan, he said. Funding came from cash and rebalancing, he said. LCG Associates advised.
MOON TOWNSHIP, Pa. - Nova Chemicals Corp. changed two investment options in its $100 million 401(k) plan, replacing the MAS Value Fund with the MAS Morgan Stanley Institutional Trust Midcap Value Fund and the GAM International Fund with the ING International Value Fund, said Linda Bartoni, rewards and recognition leader. The plan has 12 fund options, she said. Charles Schwab is bundled provider.
Nuclear Fuel Services
ERWIN, Tenn. - Nuclear Fuel Services hired Batterymarch to manage two active domestic small-cap growth and value equity portfolios: $3.5 million for its $35 million salaried pension plan, and $1.6 million for the $16.7 million hourly pension plan, said Andrew Landers, compensation and benefits manager. Funding came from reducing other portfolios across the board; no managers were terminated. William M. Mercer advised.
Ohio School Employees
COLUMBUS, Ohio - The $78.5 billion Ohio School Employees' Retirement System invested $25 million in J.P. Morgan Fleming's European Corporate Finance Fund, an international private equity fund of funds. Funding will come from cash.
Perrier Group of America
GREENWICH, Conn. - Perrier Group of America hired T. Rowe Price as bundled provider for its $243 million 401(k) plan, said Margaret Lee, manager-compensation and benefits. The plan terminated previous bundled provider PFPC because it wanted lower administration fees, a larger range of investments and a developed website. Investment options will increase to 14, up from 13, she said.
WEST CALDWELL, N.J. - Ricoh Corp. added 10 investment options to its $110 million 401(k) plan, said Vincent Longobardo, manager-corporate benefits. The new mutual funds are: T. Rowe Price Blue Chip, Health Sciences and New Era; Alger Midcap Retirement Growth; Fidelity Freedom, Dividend, Select Technology Portfolio and Select Financial Services Portfolio; PIMCO Total Return; and Strong Advisor Small-Cap Value. The plan eliminated the Fidelity Fund, Fidelity Asset Manager and Fidelity Contra Funds.
The plan now offers 17 options. Fidelity is bundled provider.
TACOMA, Wash. -Frank Russell Co. hired Delaware Investments for three fixed-income assignments in Frank Russell's manager-of-managers program: the $5.1 billion Frank Russell Trust Fixed Income I Fund; $389 million Frank Russell Investment Fixed Income Fund III; and $636 million FRIC Multistrategy Bond Fund. Delaware will manage a total of $700 million in fixed-income assets in its first assignment with Russell.
Delaware replaces another manager that Steve Claiborne, Frank Russell spokesman, would not identify.
SAN ANTONIO - SBC Communications Inc. hired Mellon H.R. Solutions as record keeper for its $12.6 billion 401(k) plan, said Dru Cessak, who administers the defined contribution plan for SBC. Mellon already is record keeper for SBC's $13.7 billion defined benefit plans, said Curt Morgan, Mellon senior vice president.
Mellon replaced MetLife.
ST. LOUIS - Schnuck Markets Inc. added the Fidelity Midcap Fund as an investment option in its $100 million 401(k) plan, and replaced the MS Balanced Fund with the Fidelity Asset Manager Income Fund, said Anthony Hoffmann, director of benefits. The plan will offer 11 options, up from 10, he said. Fidelity is investment provider, record keeper and trustee.
Sector Capital Management
MEMPHIS, Tenn. - Sector Capital Management hired W.H. Reaves to manage $100 million in utility stocks, said William L. Gurner, Sector chief investment officer and president. He would not name the previous manager. W.H. Reaves will join eight other asset class specialist managers that run portions of Sector Capital's $1.1 billion core equity strategy, comprising style, sector and market neutral and all-cap.
Sheet Metal Workers National
ALEXANDRIA, Va. - Sheet Metal Workers National Pension Fund hired Strong Capital Management to run $115 million in a core-plus fixed-income portfolio for the $2.7 billion plan. Merrill Lynch assisted.
Teamsters Local 639
WASHINGTON - Teamsters Local 639 Employers Pension Trust hired Strong Capital Management to run $15 million to $19 million in an active domestic small-cap value equity portfolio for its $500 million pension plan, said Mark Winter, administrative manager. Funding comes from a terminated manager that ran the money in a similar style, Mr. Winter said. Investment Performance Services advised.
LAKE FOREST, Ill. - Trustmark Insurance Co. plans to add the Oakmark Select One Fund as an option in its $68 million 401(k) plan, and replace the Morgan Stanley Institutional International Magnum Fund with the Morgan Stanley Institutional International Equity Fund, said Frank Cavanaugh, associate director of human resources.
The board is expected to approve the changes by July 1, increasing the plan's total number of investment options to nine from eight. Fidelity is record keeper, trustee and service provider for the plan.
LINCOLNSHIRE, Ill. - Zenith Electronics Corp. hired INVESCO as semibundled provider for its $160 million 401(k) plan, said John Taylor, vice president of public affairs. INVESCO replaces incumbent CitiStreet, Mr. Taylor said. The plan will offer 12 options, up from nine. The only fund it is retaining is the PRIMCO Stable Value fund.