Electrical Workers, IBEW, Local 8, Rossford, Ohio, hired active domestic equity managers Select Equity and Fox Asset Management to run $27 million in large-cap value and $19 million in small-cap growth, respectively, said Charlene Dee, pensions administrator at the $189 million pension plan.
Funding for the Select hire came from a portfolio managed by Cutler & Co. in a similar style; the termination was due to "internal problems at the firm, she said. Michael West, CEO at Cutler, declined comment. Funding for the Fox portfolio came from a portfolio managed by Kayne Anderson Rudnick in a similar style; it was terminated because of a change in KAR ownership, Ms. Dee said.
National Fiduciary Advisors advised.