Parker-Hannifin Corp., Cleveland, hired several managers for its pension plan, said John Nawrocki, associate director with plan consultant CRA RogersCasey.
The new managers are: Pacific Financial Research, replacing Putnam as manager of an active domestic large-cap value equity portfolio; Brown Capital Management, replacing Axe-Houghton as a manager of active domestic small-cap to midcap growth equities; and Wasatch Advisors, replacing Nicholas-Applegate as manager of an active domestic small-cap growth equity portfolio, Mr. Nawrocki said.
The plan hired Cramer Rosenthal McGlynn to run an active domestic small-cap to midcap value equities, and Southeastern Asset Management, active domestic midcap value equities. It also invested in the Capital Guardian Trust Emerging Markets Growth Fund and the PIMCO High Yield and Emerging Markets Bond mutual funds, he said.
The plan has $1.2 billion in assets, according to the Money Market Directory. David Ostro, Parker-Hannifin assistant treasurer, confirmed the moves but would not give details.