America West Airlines
PHOENIX - America West Airlines Inc. added 11 investment options and a Fidelity Brokerage Link window to its $290 million 401(k)-profit sharing plan, said Patty Nowack, spokeswoman. The plan added the Alger Midcap Growth Institutional Portfolio-Institutional Class, Managers Special Equity, Morgan Stanley Institutional Fund Trust Value Portfolio, Oakmark Select and Fidelity Low-Priced Stock funds, along with six Fidelity Freedom funds.
Arkansas Local Police & Fire
LITTLE ROCK, Ark. - The $450 million Arkansas Local Police & Fire Retirement System hired PIMCO and Western Asset Management to manage $75 million each in active domestic core fixed income, pending contract negotiations, said Cathyrn Hinshaw, executive director.
The plan will fund the hires by terminating Thompson, Siegel & Walmsley, which ran a $150 million active international equity portfolio. Stephens Inc. advised.
Arlington County Supplemental
ARLINGTON, Va. - The $1 billion Arlington County Supplemental Retirement System hired Granahan Investment Management to run $35 million in active domestic small-cap equities with a growth tilt, said Bruce O. Kallos, administrator. Funding came from reducing an active domestic small-cap equity portfolio with a value tilt, managed by Trinity Investment Management, to $35 million from $70 million. Ashford Consulting assisted.
FORT SMITH, Ark. - Baldor Electric Co. hired INVESCO as bundled provider for its $185 million 401(k) plan, said Donald Osman, benefits manager. INVESCO was the plan's record keeper, he said. Wachovia was replaced as trustee, administrator and investment provider, he said. Pension Consultants advised.
Baltimore County Employees
TOWSON, Md. - The $1.5 billion Baltimore County Employees' Retirement System committed $50 million to private equity fund HarbourVest VII, said Robert Burros, investment administrator. Ennis Knupp assisted.
Bristol General Retirement
BRISTOL, Conn. - The Bristol General Retirement System hired INVESCO to manage $7 million in active international value equities, said Gayle W. Levesque, accounting supervisor. Funding came from terminating Nicholas-Applegate, which managed $7 million in active domestic midcap growth equities.
Separately, the $349 million system voted to retain Merrill Lynch as consultant, pending negotiations.
Citigroup Asset Management
STAMFORD, Conn. - Citigroup Asset Management hired Smith Barney Fund Management, a Citigroup subsidiary, to subadvise the CitiStreet Large Company Stock Fund, replacing Putnam, according to SEC filings. SSgA and Wellington Management remain the other subadvisers for the $414 million mutual fund.
Columbia Management Group
PORTLAND, Ore. - Columbia Management Group hired State Street Corp. to provide fund services for all its mutual funds, which have $50 billion in assets.
MADISON, N.J. - Drew University hired Capital Guardian Trust to manage $19 million in active international core equities for its $200 million endowment, said Jeffrey Balog, associate treasurer. Partial funding came from terminating a $9 million active international aggressive growth equity portfolio, managed by Janus, he said. The remainder of funding came from cash and from shifting $7 million from a temporary passive MSCI EAFE fund run by State Street Global Advisors, he said. Callan Associates advised.
Electrical Construction Industry
MILWAUKEE - Electrical Construction Industry Pension Plan Board of Trustees hired NWQ Investment Management to run $10 million in active domestic all-cap value equity for its $166 million pension plan, said Beth Iding, administrative manager. The plan also invested $10 million and $13 million, respectively, in NIS/Wood large-cap to midcap value equity and TFA/Nicholas-Applegate large-cap value equity accounts. The plan also invested $13 million each in the Harbor Capital Appreciation Fund and the Capital Research Growth Fund of America, and $5 million in the TCW Galileo Select Fund; the mutual funds are new investments, she said. The plan also put an additional $40 million in the Chevy Chase IBEW-NECA Equity Index Fund, increasing that investment to $54 million, she said.
Partial funding came from terminating Strong Capital, which managed $40 million in active domestic large-cap value equities, and Oppenheimer Capital, which handled $34 million in active domestic midcap to large-cap value equities, said Ms. Iding. The plan also reduced two active domestic fixed-income portfolios: one managed by Baird Investment Advisors was cut by $13 million, to $24 million, and one run by NIS was cut by $17 million, to $25 million, she said. Strategic Capital Advisors assisted.
OAK BROOK, Ill. - The $14 billion Illinois Municipal Retirement Fund hired William Blair to run $250 million in active international equities, benchmarked to the MSCI World (ex-U.S.) index, said Walt Koziol, director of investments. The retirement fund will reduce an EAFE index fund managed by Northern Trust to $265 million, he said. Mercer assisted.
New Mexico Educational
SANTA FE, N.M. - The $6 billion New Mexico Educational Retirement Board hired Barclays Global Investors to manage $500 million in an enhanced S&P 500 index fund, said Frank Foy, chief investment officer. It shifted the money from an internally managed S&P 400 index fund.
Separately, the system hired active domestic small-cap equity managers Rothschild Asset Management to handle $150 million in value and Franklin Advisers to run $250 million in growth, Mr. Foy said. The managers replace active domestic small-cap core managers Jurika & Voyles and Chicago Equity Partners, he said; the size of their portfolios was not available. Fund officials wanted separate growth and value managers for small cap, he said.
Nissan North America Inc. Gardena, Calif., and Nissan North America Manufacturing, Smyrna, Tenn., invested $32 million and $19 million, respectively, in Northern Trust's Daily Collective Russell 1000 Value Equity Index Fund, said Richard E. Battle, director of compensation and benefits. Funding came from terminating previous index portfolios, he said. Officials for the $243 million California pension plan and the $195 million Tennessee pension plan made the switch after hiring Northern Trust as trustee in May, he said. LCG Associates advised.
North Miami Employees
NORTH MIAMI, Fla. - The North Miami Employees Retirement System hired DePrince Race & Zollo to manage $5 million in active domestic large-cap value equities for its $30 million pension plan for sworn police personnel, said Miguel A. Codorniu, administrator. Funding came from reducing Montag & Caldwell's active domestic large-cap growth equity portfolio to $20 million. GRS Asset Consulting advised.
MELVILLE, N.Y. -Henry Schein Inc. added the ABN AMRO Veredus Aggressive Growth Fund as an investment option in its $138 million 401(k) plan, said Shirelle F. Pearson, benefits manager. The plan also replaced the Fidelity High Income and Investment Grade Bond funds with the PIMCO Total Return fund; the Dreyfus Founders Growth fund with the Fidelity Magellan fund; and the Fidelity Dividend Growth fund with the Fidelity Growth and Income portfolio, she said. New England Pension Consultants advised.
HICKORY, N.C. - Shurtape Technologies Inc. and Shuford Mills Inc. hired INVESCO as bundled provider of the $25 million Shurtape and $15 million Shuford Mills 401(k)/profit-sharing plans, said C. Hunt Shuford Jr., chief financial officer for both companies. First Union was bundled provider for both plans.
Southeast Louisiana Transit
NEW ORLEANS - Transit Management of Southeast Louisiana Inc. hired Westcap Investors to manage $4 million in active domestic small-cap growth equities for the $93 million pension plan, pending contract negotiations, said Maggie B. Foster, plan administrator.
Stanislaus County Employees
MODESTO, Calif. - The $875 million Stanislaus County Employees' Retirement Association hired Bank of New York to manage a $45 million passive equity portfolio tracking the S&P 500, said Robert Harmon, administrator. Strategic Investment Solutions assisted.
Stratford Town Employees
STRATFORD, Conn. - The Stratford Town Employees' Pension Fund hired Northern Trust to manage $20 million to $30 million in a Lehman Aggregate index fund for its $88 million employee benefits trust and State Street Global Advisors to run $10 million to $15 million in an S&P 500 index fund for its $29 million pension plan, said Allen Moore, director of finance and pension treasurer. The employee benefits trust also hired Evergreen Investments to run $40 million in active domestic laddered fixed income, Mr. Moore said.
Funding for the moves will come from terminating a $25 million Evergreen index fund and reducing a $27 million active domestic small-cap growth equity portfolio, also managed by Evergreen, and a $43 million active domestic fixed-income portfolio managed by Ryan Labs, he said.
Dahab Associates advised.
COLUMBUS, Ga. - Synovus Financial Corp. added six investment options to its $104 million 401(k) plan, said Heidi Andrews, retirement benefits manager. They are the Artisan Midcap, Putnam Capital Opportunities, Royce Low-Price Stock, and Synovus Large-Cap Core Equity, Midcap Value and Intermediate Term Bond funds.
Teamsters, Local 703
CHICAGO - Teamsters, Local 703, hired Chicago Equity Partners to manage $12 million in active domestic midcap core equities for its $202 million pension plan, said Thomas W. Stiede, plan manager. Funding came from terminating two $6 million active domestic midcap equity portfolios, one managed by Roxbury Capital in a growth style, and the other a value portfolio run by Morgan Stanley Investment Management, he said. Marco Consulting is advising.
DALLAS - Texas Instruments Inc. added Barclays Global Investors' active international equity, Russell 3000 Growth Tilts and Lifepath Portfolios as investment options in its $3 billion defined contribution profit-sharing plan, said Gail Chandler, spokeswoman. Plan officials wanted to "move toward a more risk-controlled array of investment offerings," Ms. Chandler said.
AUSTIN, Texas - The $80 billion Teacher Retirement System of Texas hired Tremont Advisers as its first hedge fund adviser, said Howard Goldman, director of communications. Tremont will help the system monitor its 19 existing hedge fund investments and help it select new funds.
CHICAGO - Tribune Co. hired Stratford Advisory as consultant for its $1.4 billion pension plan, according to an official for the fund, who declined to be named. Stratford replaced Richards & Tierney.
MUSCATINE, Iowa - Varied Investments Inc. hired Wells Fargo as bundled provider for its three defined contribution plans, said Arthur J. Hovick, manager of financial benefits. Wells Fargo was trustee for all three plans; administration, record keeping and the selection of investment options were handled internally.
The plans are: a $166 million profit-sharing plan for salaried employees; a $39 million 401(k)/profit-sharing plan for hourly employees; and a $16 million 401(k)/profit-sharing plan for employees of subsidiary Blue Seal Feeds Inc., Londonderry, N.H., according to Money Market Directory.
Wichita State University
WICHITA, Kan. - The $80 million Wichita State University Foundation hired Speece Thorson to manage $6 million in active domestic midcap value equities, and invested $6 million in the Brazos Midcap fund, said Patsy Selby, associate vice president of finance.