St. Paul (Minn.) Electrical Construction Pension selected two managers as finalists in a shortlist search for a manager to run a total of $15 million in active domestic large-cap value equities for both its $80 million pension plan and $75 million money-purchase plan, said Donald Callies Jr., plan administrator. He would not name the managers. Plan officials intend to choose a manager by mid-May. Funding may come from terminating an unidentified manager that runs the money in the same style and has been on watch for the past 15 months, Mr. Callies said.
The pension plans asset allocation is 41% domestic large-cap equity, 35% fixed income, 14% domestic small-cap equity and 10% domestic midcap equity. The money-purchase plans allocation is 50% fixed income, 30% domestic large-cap equity, 12% domestic small-cap equity and 8% domestic midcap equity. Alpha Investment Consulting advised.