Pennsylvania State Association of Boroughs, Harrisburg, hired PENN Capital Management to manage $2 million in small-cap domestic core equities for its balanced retirement fund, said Jeffrey L. Heishman, secretary of the $93 million fund. The fund is 60% in equities and 40% in fixed income. Mr. Heishman said small cap is a new investment area for the fund and PENN did not replace any manager. The BCS&H Group of the Wilkes-Barre (Pa.) Merrill Lynch office assisted.
Pennsylvania State Association of Boroughs, Harrisburg, hired PENN...
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