Rhode Island Carpenters Pension and Annuity Funds, Warwick, hired Weiss, Peck & Greer to run active domestic midcap core equity portfolios for both plans, said Valerie Campana, co-administrator through third-party administrator Administration Services. Putnam, which ran active domestic midcap value portfolios for both plans, was terminated following market-timing charges against the firm, Ms. Campana said. "We believe that the initiatives which we have recently undertaken to earn back investor trust will be a benefit over the long term," said Laura McNamara, Putnam spokeswoman.
Separately, the annuity fund hired Northern Capital to run active domestic fixed income, replacing New England Trust, Ms. Campana said. Trustees made the change following New England Trust's acquisition by National City Corp., she said.
Ms. Campana declined to provide portfolio sizes. Segal Advisors assisted. The pension fund has $103 million in assets, and the annuity fund has $70 million, according to the Money Market Directory. The plans do not mirror each other.
