Carl Zeiss Inc., Thornwood, N.Y., hired Portfolio Evaluations to conduct a manager review for its $43 million pension plan, pending contract negotiations, said Ann M. Flannery, director of accounting. The review will begin in May or June and should last four to five months, she said. Bear Stearns Asset Management is the sole investment manager for the plan; officials want to conduct the study because of performance, but it is too early to predict manager changes, she said. Officials at Bear Stearns did not return calls seeking comment by press time.
The plans asset allocation is 55% fixed income and 45% equity.