Nuclear Fuel Services Inc., Erwin, Tenn., hired Hotchkis and Wiley to run about $1 million in active domestic large-cap equities for the company's two defined benefit plans, said Andy Landers, director of compensation and benefits. The plans, which have about $65 million in combined assets, terminated previous manager Wellington Management for underperformance. John Steinberg, Wellington spokesman, did not return a call seeking comment by press time.
Separately, the company added the PIMCO Total Return fund as an investment option in its $40 million salaried and $10 million hourly workers 401(k) plans, said Mr. Landers. The fund replaced the Dreyfus Intermediate-Term Income fund, which plan officials terminated for performance. The plans, which mirror each other, offer nine investment options each. SunTrust Bank is record keeper, and the plans are administered in-house. Patrice M. Kozlowski, Dreyfus spokeswoman, did not return a call seeking comment by press time.
Mercer Investment Consulting assisted with both hires.