St. Clair Shores (Mich.) General Employees' Retirement System hired...

St. Clair Shores (Mich.) General Employees' Retirement System hired NWQ to manage $4 million in active domestic large-cap value equities for the $34 million pension plan, said Mary Kotowski, city clerk. Funding came from reducing Loomis Sayles' $8 million active domestic large-cap value equity portfolio to $4 million. Plan officials wanted to maximize returns and diversify, she said. The plan's asset allocation is 52% equity, 43% fixed income, 3% REITs and 2% cash. Morgan Stanley advised.