MINNEAPOLIS - American Express Financial Advisors hired Fred Alger Management to run active, domestic large-cap and midcap growth strategies for its managed account program.
Aurora General Employees'
AURORA, Colo. - The $195 million Aurora General Employees' Retirement Plan committed $10 million to HarbourVest Partners VII private equity fund, said Thomas Connell, pension plan administrator. Callan Associates advised.
SPOKANE, Wash. - Avista Corp. added the Vanguard Value Index and Small-Cap Value Index, the Dodge & Cox Stock and Sterling Small-Cap Value funds as investment options in its $140 million 401(k) plan, said Mary Trudel, manager of corporate benefits. The plan also replaced the Ivy International Fund with Artisan International. Arnerich, Massena & Associates assisted.
SACRAMENTO, Calif. - The $100 billion California State Teachers' Retirement System hired Altius Associates as adviser for its $585 million international alternative investment partnerships. Altius replaces Pathway Capital Management, whose contract had expired.
California Water Service
SAN JOSE, Calif, - California Water Service Co. hired Charles Schwab as record keeper, administrator and trustee of its $72 million 401(k) plan, said Gerald F. Feeney, vice president and chief financial officer. The plan had handled those responsibilities internally.
University of Cincinnati
CINCINNATI - University of Cincinnati placed $30 million in an S&P 500 index fund run by State Street Global Advisors, a new investment. The $940 million endowment fund's investment committee decided to index more assets, said Linda Graviss, associate treasurer. Funding will come from reducing large-cap domestic equity portfolios. Fund Evaluation Group assisted.
ROCKFORD, Ill. - Construction Industry, Locals 6, 11, 219, 790, 792 and 2158, hired Segal Advisors as consultant for its $135 million defined contribution money purchase plan, said Peggy Northrop, administrative manager. The plan replaced Marco Consulting.
NORWOOD, Mass. - Cooperative Banks Employees Retirement Association hired Batterymarch to manage $12 million in active domestic small-cap core equities, said Francis X. Maloney Jr., president. The $78 million pension plan funded the move in part by terminating Axe-Houghton Associates, which ran $8 million in active domestic small-cap growth equities. The remainder came from reducing an active domestic large-cap value equity portfolio, he said. New England Pension Consultants advised.
Dorsey & Whitney
MINNEAPOLIS - Dorsey & Whitney replaced two investment options in its 401(k) plan and money purchase plan, which have combined assets of $202 million, said Daniel T. Ulland, retirement plan specialist. The plans, which share the same options, added the Artisan International and Templeton Foreign funds and eliminated the First American International and Janus Enterprise funds. Defined Contribution Advisors advised.
LOS ANGELES - The $78 million Employers'-Warehousemen's Pension Trust Fund hired Columbia Management to run $19 million in active domestic large-cap core equities and PIMCO to manage $31 million in its Total Return Fund, said Blanca E. Gonzales, plan manager. Partial funding came from terminating a $31 million active domestic fixed-income portfolio managed by Oppenheimer; and the remainder came from reducing by half a $38 million active domestic large-cap value equity portfolio, also run by Oppenheimer. R.V. Kuhns advised.
SAN FRANCISCO - International Longshore and Warehouse Union and the Pacific Maritime Association hired Fidelity as semibundled provider for the ILWU $385 million 401(k) plan, said Michael Wechsler, chief financial officer and senior vice president at Pacific Maritime Association, the employer group for the union. Former provider MetLife left the large defined contribution plan business last year.
MADISON, N.J. - Maersk Inc. added four investment options to its $130 million 401(k) plan, said Thomas M. Steckel, general manager of benefits. They are the Oppenheimer Strategic Income, American Century Value, and Fidelity Advisor Value Strategies and Equity Income funds.
Missouri Public School
JEFFERSON CITY, Mo. - The Missouri Public School Retirement System hired Pathway Capital to manage $150 million in private equity, the $21 billion pension plan's first such allocation, said Stacey McNally, investment operations officer. Funding will come from cash. The hiring was the result of an asset allocation study adopted by the system in January. Strategic Investment Solutions assisted.
CARSON CITY, Nev. - The $13 billion Nevada Public Employees' Retirement System hired Banc One to manage $400 million in active domestic core fixed income, said Ken Lambert, assistant investment officer. The plan funded the move from two temporary Lehman Aggregate index funds, one managed by State Street Research and the other by Payden & Rygel, by $200 million each; both managers still run $650 million each in active domestic core fixed income. Callan Associates advised.
New England Business Service
GROTON, Mass. - New England Business Service Inc. hired MassMutual as bundled provider for its $120 million 401(k) plan, said Walter Orlow, benefits department officer. The company consolidated the 401(k) plans of four acquired firms. MassMutual was not an incumbent; the company did not ask all the previous providers to rebid. Mr. Orlow declined to provide further details. PFE Group advised.
NYC Deferred Compensation
NEW YORK - New York City Deferred Compensation Plan assigned its contract for performance consulting to Clark/Bardes Consulting, said Dean Weltman, counsel to the $4.2 billion plan. The contract was held by Arthur Andersen, whose investment consulting team left in May with most joining Clark/Bardes. Mr. Weltman said the assignment is for the balance of the contract, which is about a year. When it ends, the system will issue an RFP.
CHICAGO - Nuveen Investments hired State Street Corp. to provide fund accounting and custody, and Boston Financial Data Services to provide transfer agency and shareholder services, for 130 mutual funds and exchange-traded funds with a combined $45 billion in assets under management, said Laurel O'Brien, assistant vice president of public relations.
The firms replace J.P. Morgan Chase, she said.
NEW ORLEANS - Ochsner Clinic Foundation added the Columbia High Yield, Fremont U.S. Micro-Cap and Morgan Stanley Institutional Small Company Growth funds as investment options for its $100 million 401(k)/profit-sharing plan, said Tracy P. Landry, manager of benefits.
It dropped the Fidelity Advisor High Yield Bond fund, he said. Post Oak Capital advised.
Ohio School Employees
COLUMBUS, Ohio - The $7.3 billion Ohio School Employees' Retirement System hired Mellon Trust as master record keeper and investment accountant, said Doug Sisson, director of investments. Those functions had been handled internally. Frank Russell assisted.
PENSACOLA, Fla. - The $68 million Pensacola Firefighters Relief & Pension Plan hired three active domestic equity managers, said Cheryl Jackson, senior administrative officer. Davis Hamilton Jackson will run $10 million in large-cap growth; DePrince, Race & Zollo, $3 million in small-cap value; and J. & W. Seligman, $3 million in small-cap to midcap growth. Partial funding came from a $10 million active domestic large-cap growth equity portfolio, managed by Fleet Bank, she said. Merrill Lynch advised.
Philadelphia Gas Works
PHILADELPHIA - Philadelphia Gas Works Retirement Reserve hired Evergreen Investment to manage $33 million in active domestic core fixed income, pending contract negotiations, said John R. Foulkes, chief investment officer of the $400 million pension plan. Partial funding will come from terminating an $18 million active domestic core fixed-income portfolio run by RRZ; $10 million will go to the Evergreen portfolio, and $8 million will be added to an existing active domestic core fixed-income portfolio run by Weaver C. Barksdale. Yanni Partners advised.
PHILADELPHIA - The $4.4 billion Philadelphia Public Employees' Retirement System hired Ariel Capital Management, Boston Co. and Lord Abbett to run $60 million each in active domestic midcap value equities, said Tony Johnson, chief investment officer. Funding came from rebalancing the system's fixed-income allocation and cuts in international equities.
VALLEY FORGE, Pa. - Quaker Funds hired Sectoral Asset Management to subadvise the Quaker Biotech Pharma-Healthcare Fund, a new mutual fund, according to a filing with the SEC.
Rhode Island Employees
PROVIDENCE, R.I. - Rhode Island Employees Retirement System hired MacKay-Shields and Shenkman Capital Management to manage $125 million each in high-yield fixed income, said Bill Bensur, the Wilshire Associates consultant who assisted. Funding came from terminating Loomis Sayles, which managed $250 million in a combination high-yield/convertible bond portfolio.
MILPITAS, Calif. - Solectron Corp. made several changes to the investment options offered by its $198 million 401(k) plan. It added the Vanguard Windsor 2; CRM Small-Cap Value; Wasatch Small-Cap Growth; Fidelity Spartan U.S. Equity Index and Freedom Income; and five Fidelity Freedom Lifestyle funds. It also added the BlackRock Core Bond Total Return Portfolio, replacing the Fidelity Intermediate Bond fund, and dropped the Fidelity Contrafund. Buck Consultants advised.
YORK, Pa. - Susquehanna Pfaltzgraff Co. added the T. Rowe Price Small-Cap Fund as an investment option in its $60 million 401(k) plan, said Pamela B. Zerba, director of employee benefits.
Tulsa County Employees
TULSA, Okla. - The $136 million Tulsa County Employees' Retirement System hired Fayez Sarofim to manage $17 million in active domestic large-cap core, said Robert E. Hyer, deputy treasurer. Funding came from terminating Morgan Stanley, which ran $17 million in the same style, he said. Marquette Associates advised.
WALTHAM, Mass. - Waltham Contributory Retirement System hired Piedra Capital to manage $12 million in active domestic midcap growth equities for the $115 million pension plan, said Joseph F. Juppe, executive director. Funding came from a $12 million active domestic small-cap to midcap growth equity portfolio managed by Essex. H.C. Wainwright assisted.