Plumbers & Steamfitters Local 630, West Palm Beach, Fla., hired Richmond Capital to manage $10 million in active domestic core fixed income, said Owen L. Culpepper, business manager and chairman. Funding came from terminating Strong Capital, which ran the money in a similar style, due to personnel changes, he said.
The $80 million pension plan's asset allocation is 61% domestic equity, 30% domestic fixed income, 5% international equity and 4% cash and equivalents. Investment Performance Services advised.
