Searches and Hires

Haverhill Contributory sticks with Fisher, Putnam for U.S. small-cap equities

Haverhill (Mass.) Contributory Retirement System rehired Fisher Investments and Putnam Investments as the pension fund's U.S. small-cap value equity manager and small-cap growth equity manager, respectively.

The value portfolio will hold up to 6.3% of the fund assets, or about $13 million; and the growth portfolio, up to 4.2% of assets, or about $9 million.

The searches were launched in November to comply with state law, said David Van Dam, system administrator, in an email.

Wainwright Investment Counsel, investment consultant to the $210 million pension fund, assisted with the searches.

The pension fund has a 25.7% allocation to domestic equities.

Finalists Granahan Investment Management and AllianceBernstein (AB) also made presentations for the small-cap growth equity mandate, while Boston Partners and MFS Investment Management were selected to make presentations for the small-cap value allocation, Mr. Van Dam said.