CHICAGO — Boeing Co. hired Dwight Asset Management to oversee its $7 billion stable value fund and Western Asset Management to manage a portion of the underlying fixed-income assets, according to Anne Eisele, director-finance communications. The fund accounts for about 30% of the company's $24 billion 401(k)INGan. Dwight replaces ING Life Insurance and Annuity, which will continue to manage a portion of the underlying assets and provide a portion of the insurance wrap protection for assets in the stable value fund.
Under the new structure, the stable value fund will have a combination of short-term, intermediate-term, and longer-term portfolios. The fund had consisted of only intermediate-term portfolios.
Ennis Knupp assisted.