Lawrence (Mass.) Retirement Fund hired Freedom Capital to manage $10...

Lawrence (Mass.) Retirement Fund hired Freedom Capital to manage $10 million in active domestic large-cap growth equities and Hartford Institutional Trust to manage $5 million in active domestic high-yield fixed income for its $100 million pension plan. An official at the plan, who asked not to be identified, said funding for the Freedom hire came from reducing other portfolios. The Hartford hiring was funded by reducing a Wellington Management Lehman Aggregate index portfolio to $25 million. The moves were made for diversification. The fund’s asset allocation is 18% S&P 500 index, 19% Russell 1000 Value index, 10% Russell 2000 Value index, 25% Lehman Aggregate index, 17% domestic fixed income, 9% international fixed income and 2% cash. New England Pension Consultants advised.