Southwest Gas Corp., Las Vegas, hired Hartford Investment Management to run $51 million in core-plus fixed income, replacing McKee Investment, said Ken Kenny, treasurer. Trustees for the $309 million pension plan thought McKee had become too small a firm to run the mandate, he said. Callan Associates assisted.
Separately, the $185 million 401(k) plan might start a search this month for a small-cap value equity mutual fund, Mr. Kenny said. The plan currently offers the Fidelity Low-Priced Stock fund, which is closed to new investors, and trustees want all participants to have access to a fund in that asset class, he said. At the end of the month, plan officials will seek company approval for the search, and a new fund would be added this year but further details have not been determined. Callan will assist. Fidelity is bundled provider of the 401(k) plan, which offers 13 investment options.