Spokane (Wash.) Employees' Retirement System hired Allegiance Capital, McDonnell Investment and WEDGE Capital to run $15 million each in active domestic fixed income, said Dan M. Daniels, director. The $200 million pension plan also hired Chase Investment Counsel, Edgewood Management and Trusco Capital to run $10 million each in active domestic large-cap growth equities, he said.
Sirach Capital, which ran $45 million in active domestic fixed income, was terminated for performance, and trustees also decided hiring three managers would limit their liability, Mr. Daniels said. The equity money had been in the Frank Russell Equity I mutual fund, he said; trustees wanted more active management.
Brian Tipple, Sirach Capital president, could not be reached for comment by press time.
Merrill Lynch assisted.