Braintree (Mass.) Contributory Retirement System hired EBS Asset Management and J.L. Kaplan Associates to manage $4 million each in active domestic small-cap to midcap value equities, said Doug Moseley, senior consultant at New England Pension Consultants. Funding came from terminating a firm that ran $8 million in the same style; Mr. Moseley declined to identify the manager but said the termination was due to performance.
The $84 million pension plans asset allocation is 40% fixed income, 30% domestic large-cap equity, 15% international equity, 10% domestic small-cap to midcap equity and 5% real estate.