Regis University, Denver, hired active domestic growth equity managers WCM Investment Management and State Street Global Advisors to manage a total of $6 million for the school's $25 million endowment, said Joseph Weber, CFO and treasurer. WCM will run $5.9 million in large-cap equities; the previous manager, Rittenhouse Financial, was terminated for "general reasons," Mr. Weber said. SSgA will initially handle $90,000 in small-cap equities, funded from cash, he said. The portfolio will eventually be increased, but details on its final size and the funding source have not been determined.
The fund's asset allocation is 65% domestic equity, 18% fixed income, 16% international equity and 1% cash. Smith Barney assisted.