Plumbers & Steamfitters, Local 234, Jacksonville, Fla., might add active domestic midcap equities as a new allocation for its $72 million pension plan, said Kingsley Tharpe, business manager. Trustees are likely to decide at their March 25 meeting if they will proceed with the change, Mr. Tharpe said. Further details have not been determined.
Currently, active domestic large-cap managers Chartwell, which runs a value portfolio, and Montag & Caldwell, which runs growth, each handle about $15 million for the plan, he said. Sawgrass Asset runs $6 million in active domestic small-cap growth equities.
The plan's assets are split equally between equity and fixed income. Marco Consulting is assisting.