The Boston Home, Dorchester, Mass., hired MFS Institutional Advisors...

The Boston Home, Dorchester, Mass., hired MFS Institutional Advisors to manage $4.6 million in midcap growth domestic equities for its $37.6 million endowment. The allocation was managed by Standish Ayer & Wood, which until recently managed most of the total endowment, said Paul Ercolini, CFO. "The investment committee wanted to diversify and add hedge funds and value, and we didn’t think we could get all that with Standish alone. For midcap, we thought MFS had a more concentrated view of growth stocks,’’ he said. Officials at Standish declined to comment. The endowment has hired five new managers in 18 months, moving into hedge funds, large-cap indexing and midcap value stocks. Standish still handles a $2.8 million small-cap equity portfolio and about $11 million in bonds. No more manager searches are being conducted at this time, Mr. Ercolini said.