Ohio Northern University , Ada, Ohio, hired Lord Abbett to manage $10...

Ohio Northern University, Ada, Ohio, hired Lord Abbett to manage $10 million in active domestic midcap value equities for the $85 million endowment plan, said Emanuel Goode, controller. Funding came from reducing an active domestic large-cap growth equity portfolio managed by Alliance Capital by $5 million, leaving it with $23 million, and reducing the plan’s internally managed fixed-income portfolios by $5 million, leaving them with $10 million. Plan officials added the midcap value equity allocation for diversification, he said. The asset allocation is 88% equity and 12% fixed income. A.G. Edwards advised.