UMWA Health and Retirement Funds, Washington, is close to hiring an active international equity manager to run $90 million, said Robert Magalski, investment adviser. The staff of the $6.3 billion fund conducted the search internally. Funding comes from a $180 million active international equity portfolio managed by T. Rowe Price International, which was terminated for performance earlier this year, Mr. Magalski said. The balance of that portfolio went to State Street Global Advisors, which was hired in July to manage $90 million, split between an MSCI EAFE index fund and a Citigroup EMI ex-U.S. index fund.
T. Rowe Price spokesman Rajiv Vyas declined to comment.