Twin Disc Inc., Racine, Wis., hired State Street Global Advisors to run $18 million in a passive domestic fixed-income fund benchmarked to the Lehman Brothers Intermediate Government/Corporate Bond index, said James O. Parrish, vice president of finance. The $90 million pension plan terminated Brown Brothers Harriman, which ran the money in an active domestic fixed-income portfolio benchmarked to the same index. The termination was for performance and to reduce fees, he said. Marquette Associates advised.
Evan Zall, spokesman for Brown Brothers Harriman, did not return a call seeking comment by press time.