Massachusetts Pension Reserves Investment Management Board, Boston...

Massachusetts Pension Reserves Investment Management Board, Boston, will hire Gardner Lewis Asset Management and NWQ Investment Management to run $330 million each in active domestic large-cap equities, said acting CIO Stan Mavromates. Growth manager Gardner Lewis plans to hold between 45 and 50 stocks in its portfolio, and value manager NWQ plans to have 40 holdings. Partial funding will come from reducing a Fidelity active domestic large-cap core portfolio by $160 million, leaving it with $330 million; the balance will be shaved from the roughly $7.5 billion PRIM has in S&P 500 index funds run by State Street Global Advisors. Officials for the $33.6 billion fund made the change to put more domestic large-cap equity assets under active management.