Searches and Hires

Watertown Contributory Retirement sticks with LMCG for midcap equity

Watertown (Mass.) Contributory Retirement System rehired LMCG Investments to manage $10 million in an active core U.S. midcap equity strategy for the $185 million defined benefit plan.

Fiduciary Investment Advisors, investment consultant to the pension plan, assisted with the search.

The search was originally launched in January because the pension plan's contract with LMCG was set to expire by the end of the year, said Richard A. Carey, associate research analyst at Fiduciary Investment Advisors.

The retirement system had 26.8% allocated to domestic equities as of Dec. 31, 2016, according to its most recent available annual report.