Automobile Mechanics, Local 701, Countryside, Ill., hired five...

Automobile Mechanics, Local 701, Countryside, Ill., hired five managers because of a recent asset allocation study that added small-cap core, value and growth U.S. equity, and midcap value and growth U.S. equity as new asset classes, said Alison Ellsworth Silver, consultant to the $617 million defined benefit plan. Hired were: Ariel Capital, midcap value; Putnam, midcap growth; Trust Fund Advisors, midcap and small-cap growth; Dreyfus Investment Advisors, core small-cap; and Systematic Financial, small-cap value. Ms. Silver said $10 million will be allocated to each new portfolio.