AUSTIN, Texas — Texas Prepaid Higher Education Tuition Board hired Wells Capital Management and rehired Chase Investment Counsel as active domestic large-cap growth equity managers, according to Andrew Ruth, director of special projects in the Texas comptroller's office. Allocations have not been determined, but Chase currently runs $112 million in that style for the fund.
The $1.6 billion program also rehired incumbents T. Rowe Price to run $175 million in active domestic small-cap core equity; Mondrian Investment Partners to manage $110 million in active international value equity and Barrow, Hanley, Mewhinney & Strauss to handle $100 million in active domestic large-cap value equities, Mr. Ruth said.
Separately, JPMorgan Chase, Merrill Lynch and State Street were hired to be the program's first transition managers, according to Mr. Ruth. Their contracts expire Aug. 31, 2010.