Industrial Employers & Distributors Association, Emeryville, Calif., hired Brandywine to manage $6 million in active domestic small-cap value equity for its $130 million pension plan, said David McKenzie, administrator and trust secretary. It also hired Reams Asset to manage $65 million in active domestic core fixed income; Mellon Capital to run $32 million in an S&P 500 enhanced index fund; Dodge & Cox to manage $10 million in active domestic large-cap value equities; and Baird Equity to handle $10 million in active domestic large-cap growth equities, he said.
Funding for each of the new managers came from the January termination of Bankers Trust, which ran $117 million in core equity, bonds and immunized bonds, and Palley-Needelman, which ran $9 million in active domestic large-cap. The plan's asset allocation is split 50/50 between equity and fixed income. Alan Biller & Associates advised.