The PBGC hired Prudential Investment Management, Wellington Management...

The PBGC hired Prudential Investment Management, Wellington Management and Western Asset Management to run active domestic fixed-income portfolios, according to Jeffrey Speicher, spokesman. Portfolio sizes have not been determined. Funding is coming from reducing the agency's equity exposure to between 15% and 25% of assets, from 37% of assets. Further details could not be learned by press time.