Redford Township (Mich.) Police and Fire Pension Plan hired Seizert Hershey to run $9 million in active domestic large-cap core equities, said Robert F. Brang Jr., township treasurer. Funding came from rebalancing the $60 million plan's fixed-income allocation, Mr. Brang said. The plan will reduce an active domestic bond portfolio run by Orleans Capital, leaving it with $20 million, he said. The plan's asset allocation is 55% equity, 40% fixed income and 5% real estate.
Merrill Lynch assisted.