Illinois Consolidated Telephone Co., Mattoon, hired Rothschild Asset to manage $4 million in active domestic small-cap core equities, a new allocation, said Steve Grissom, treasurer. Funding came from taking $3 million from an active domestic large-cap value equity portfolio managed by Pacific Financial Research, leaving it with $10 million, and pulling $1 million from an active domestic fixed-income portfolio run by Northern Trust, which now has $18 million. Plan officials think the current market provides an ideal climate for trying small-cap equities, Mr. Grissom said.
Consultant Robert W. Baird began the shortlist search in the first quarter.
The $48 million pension plan's asset allocation is 40% fixed income, 20% domestic large-cap value equity, 20% domestic large-cap core equity, 10% small-cap core equity and 10% international equity.
