MGIC Investment Corp., Milwaukee, invested $6 million in the FMI Common Stock Fund and $6 million in the First American Midcap Growth Opportunity Fund for its $90 million pension plan, said James A. Karpowicz, vice president of investments and corporate treasurer. Funding came from an active domestic large-cap growth equity fund and an active domestic aggressive growth equity fund with a combined $12 million in assets; Mr. Karpowicz declined to identify the mutual funds, which were dropped because of performance.
Separately, plan officials added $3 million to its Vanguard Institutional index fund investment, increasing it to $19 million, he said. Funding came from rebalancing.
The plans asset allocation is 90% equity and 10% fixed income. It did not use a consultant.