National Fuel Gas Co., Williamsville, N.Y., hired INTECH to run a $25 million enhanced Standard & Poor's 500 index account; T. Rowe Price to manage a $25 million enhanced Russell 1000 account; and NWQ Investment Management to handle $20 million in active domestic small-cap to midcap equities, said David Dribot, manager of trust investments for the company's $835 million pension plan. Funding for the NWQ account came from reducing the portfolios of the fund's existing small-cap managers, and funding for INTECH and T. Rowe Price came from reductions to passive equity index accounts. Mr. Dribot wouldn't identify the affected managers but did say none were terminated. The changes were made to boost returns and for added diversification, he said.
The company also is searching for a private equity manager to handle an undisclosed amount, said Mr. Dribot. He said the search is limited but declined to provide further details.
