Fordham University, Bronx, N.Y., hired Rice, Hall & James to manage $16 million in active domestic midcap growth equities for its $208 million endowment plan, said Conrad J. Obregon, director of treasury operations. Funding came from reducing the active domestic large-cap equity portfolios of John W. Bristol, which now runs $50 million in growth, and Gabelli Asset and J&W Seligman, which now manage $22 million each in value, Mr. Obregon said. Most of the money came from the large-cap value portfolios, but he would not provide further details. Plan officials made the changes to reduce risk, he said.
The funds asset allocation is 24% domestic large-cap growth equity, 21% domestic large-cap value equity, 20% fixed income, 12% small-cap value equity, 10% international equity, 8% midcap growth equity and 5% micro-cap growth equity. Mercer Investment Consulting advised.