Gloucester (Mass.) Contributory Retirement System hired INTECH to manage $6 million in active domestic large-cap growth equities, said Linda Geary, executive secretary and trustee. Partial funding came from terminating Freedom Capital for performance of a $4.8 million large-cap growth equity portfolio; the remainder will come from trimming the portfolios of the $48 million plan's other managers. New England Pension Consultants assisted.
Eugene Durgin Jr., director of client services at Freedom Capital, did not return a call by press time seeking comment.