Millsaps College, Jackson, Miss., hired State Street Global Advisors and PIMCO to run a combined $21 million in commingled index funds for the $78 million endowment, said Louise Burney, vice president-finance. SSgA will run $18 million in an enhanced S&P 500 equity fund, and PIMCO will run $2.5 million in an enhanced Lehman Brothers Aggregate bond index fund, she said. Funding for both moves came from terminating Commonfund, which ran the money in passive portfolios using the same benchmarks, Ms. Burney said. Endowment officials wanted to increase returns without increasing investment risk, she said. Fund Evaluation Group assisted.