Merced County Employees Retirement Association, Merced, Calif., hired Wasatch Advisors to run $10 million in active domestic small-cap growth equities for its $360 million pension plan, said Richard Stensrud, CEO. Funding came from a $10 million portfolio managed in the same style by Wells Capital, which was terminated for performance, he said. William Timoney, executive vice president, head of client services for Wells Capital, said the plan had enjoyed a good and long-standing relationship with Merced and that he understood the termination to be more a change in strategy than a result of performance.
The plans asset allocation is 50% domestic equity, 38% fixed income, 6% international equity, 5% real estate 1% cash. Dorn, Helliesen & Cottle advised.