Dearborn Heights (Mich.) General Government Pension Plan added a total of $3.3 million to the portfolios of its four active domestic equity managers, said John Riley, city treasurer and pension system secretary. Loomis Sayles received $1.2 million, increasing its large-cap value portfolio to $5.5 million; Navellier was assigned $1.1 million, for a total of $2.1 million in small-cap growth; and Aeltus Investment received $1 million, raising its large-cap growth portfolio to $5.75 million. The $31.5 million plan also added $200,000 to the American Funds EuroPacific Growth fund, for a total investment of $2.1 million.
Funding came from reducing an active domestic fixed-income portfolio run by Reinhart & Mahoney, to $16 million, Mr. Riley said. Plan officials wanted to more closely reflect the fund's target asset allocation, which is 50% fixed income, 18% domestic large-cap growth equity, 18% domestic large-cap value equity, 7% small-cap growth equity and 7% international equity.
Morgan Stanley advised.
