United Dairy Industry Association, Rosemont, Ill., invested its $17 million pension plan in five mutual funds, said Bill Cusick, vice president-human resources. There are four equity funds - Dodge & Cox Stock, INTECH Large Cap Growth, Royce Premier and Julius Baer International Equity - and one fixed-income fund, PIMCO Low Duration.
The fund had been managed by Stein Roe Investment Counsel. Plan officials wanted to reconsider the manner in which they diversified equity styles and wanted "to be able to look for the best-in-class" funds, Mr. Cusick said. Performance was not an issue, he said.
Consultant J.H. Ellwood & Associates is assisting.