Electrical Workers, IBEW, Local 648, Hamilton, Ohio, hired ASB Capital Management to run $2.5 million in a commingled real estate fund for its roughly $57 million pension plan, said Linda Bryant, plan administrator. It is the plan's first move into real estate. Funding came from rebalancing, and no managers were terminated. Ms. Bryant said plan officials decided to move into real estate because they see an opportunity for higher return at a lower risk level.
Investment Performance Services assisted.