Millcreek Township Combined Pension Plan, Erie, Pa., hired Golden Capital Management to manage $10 million in an active, domestic large-cap core equity strategy for the $60 million pension fund.
Morrison Fiduciary Advisors, investment consultant to the fund, assisted with the search.
The plan is replacing the Vanguard S&P 500 Index ETF, said Robert Bulas, senior consulting analyst at Morrison Fiduciary Advisors.
The RFP was issued in January because the board wanted to switch the allocation to active from passive.
