Ash Grove Cement Co., Overland Park, Kan., hired Barclays Global to manage $38 million in passive domestic bonds and Delaware International to run $5 million in active international value equities, said Kent Sunderland, vice chairman. The $170 million pension plan funded the BGI hiring by terminating Banc of America Capital, which ran the money in active domestic fixed income; Banc of America was "not meeting our expectations," Mr. Sunderland said; funding for Delaware's portfolio came from cash. Asset Consulting Group assisted.
Jennifer Tice, Banc of America spokeswoman, said the firm does not comment on specific clients but remains "dedicated to delivering competitive investment performance."
