SOUTHFIELD, Mich. -- Allied Domecq North America Corp. hired three managers following an asset allocation review of its $300 million defined benefit plan.
Hired were: Aeltus for an $80 million balanced portfolio; Munder for $24 million in small-cap growth; and Lazard for a $24 million small-cap value portfolio. The firm terminated two unidentified balanced managers, whose mandates didn't fit the change in portfolio structure, said Cathy Duquette, treasury analyst. Smith Barney assisted.
HARRISON, Ark. -- American Freightways hired Prudential Investments as a bundled provider for its $90 million 401(k) plan.
Prudential replaces NationsBank, which left the business. Officials were in the process of reviewing the plan before the NationsBank announcement, said Greg Satterfield, vice president of accounting.
The number of investment options will double to 10. Prudential will be the manager for half of the funds; the rest will be Putnam, PIMCO, Franklin and Kemper funds offered through Prudential.
LOUISVILLE, Ky. -- Branco Inc. hired Diversified Investment Advisors to handle the investments and administration of its $27 million 401(k) plan.
Brasfield & Gorrie
BIRMINGHAM, Ala. -- Brasfield & Gorrie Inc. added two funds to its $23 million 401(k) plan. The additions of the Putnam Voyager Fund, a midcap equity fund, and the Franklin Balance Sheet Investment Fund, a small-cap equity fund, will bring the total number of options in the plan to nine. Daniels & Alldridge assisted.
Des Plaines Policemen
DES PLAINES, Ill. -- The $38 million Des Plaines Policemen's Pension Fund hired Montgomery Asset Management and Mesirow Asset Management as its first equity managers. The fund will place about $7 million with each firm to run in all-cap portfolios. Funding will come from the plan's annuities and existing fixed-income managers; none will be terminated. Prudential Securities assisted.
DETROIT -- Detroit Edison Co. hired Mount Lucas Management to run a $35 million passive managed futures program for its $1.4 billion defined benefit plan. The program, based on the Mount Lucas Management Index, will be funded from cash.
PURCHASE, N.Y. -- Diversified Investment Advisors hired Montag & Caldwell Investment Counsel and Dresdner RCM Global Investors to co-manage DIA's Large-cap Equity Growth Fund. The fund has about $440 million in assets. The new managers replace Chancellor LGT, which has experienced portfolio manager turnover, said Jim Russell, vice president of investments. In addition, he said, DIA wanted to move to a multimanager approach.
Chancellor officials had no comment.
General Shale Products,
JOHNSTON CITY, Tenn. -- General Shale Products hired T. Rowe Price as a bundled provider for its $16.5 million 401(k) plan. The number of options will increase to seven from four.
Previously, Wachovia was trustee and record keeper. Dodge & Cox, SunTrust, Ivy, and Ameristar were fund providers. Oxford assisted.
Great West Life
WINNIPEG, Manitoba -- The Great West Life Assurance Co. hired Putnam as an international aggressive growth equity manager for its defined benefit plan. The firm will run C$14.6 million (U.S.$10 million). The plan has C$258 million (U.S.$155 million) in assets, according to the Canadian Pension Fund Investment Directory.
Key Tronic Corp.
SPOKANE, Wash. -- Key Tronic Corp. hired American Century Investments as bundled provider for its $14 million 401(k) plan. American Century replaces Barclays as record keeper. Key Tronic will use nine American Century investment funds, the Barclays S&P 500 Index Fund and will offer a self-directed brokerage option from Charles Schwab.
Los Angeles County
PASADENA, Calif. -- The $22 billion Los Angeles County Employees' Retirement Association approved a $50 million commitment to CVC European Equity Partners II, a buyout fund that invests in midsize European companies and has limited authority to invest in Asia. Hamilton Lane recommended the investment.
Los Angeles Fire & Police
LOS ANGELES -- The $9.3 billion Los Angeles Fire & Police Pension System hired Sentinel Real Estate and Urdang to manage separate account opportunistic real estate portfolios, confirmed Thomas Lopez, chief investment officer. Each firm will receive $80 million. The commitments will be funded from cash.
Ronald A. Karp Associates assisted.
New Mexico Public Employees
SANTA FE, N.M. -- The New Mexico Public Employees Retirement Association hired State Street Bank as a securities lending agent to replace SBC Warburg. State Street will take over in March, said Robert Gish, director of investments. The fund's entire $5.8 billion fund is lendable. Wilshire assisted.
Nine West Group
NEW YORK -- Nine West Group Inc. appointed Bank of New York trustee of its $55 million defined benefit plan, replacing Smith Barney Salomon. Thimio Sotos, Nine West assistant treasurer, said the appointment was part of an overhaul of pension assets, which totaled only $5 million until two years ago, when the company acquired a division of U.S. Shoe.
New York State Common
ALBANY, N.Y. -- The New York State Common Retirement Fund committed a total of $483 million to four private equity partnerships, said H. Carl McCall, sole trustee. The $96 billion system committed $125 million to JLL Fund III, a partnership sponsored by Joseph, Littlejohn & Levy; $250 million to the Thomas H. Lee Fund IV; $85 million to FS Equity IV, sponsored by Freeman Spogli & Co.; and $23 million to the Fairview Capital II L.P., sponsored by Fairview Capital. The commitments will be funded from cash.
Orange County Employees
SANTA ANA, Calif. -- The Orange County Employees Retirement Association hired Siphron Capital and Cadence Capital, both U.S. large-cap growth equity managers, and Dodge and Cox, a U.S. large-cap value manager. The firms will divide about $150 million. The allocation resulted from the $3.8 billion fund's realignment of its equity program.
An additional $100 million was allocated to Boston Partners, a U.S. fixed-income manager. The money came from bond manager LaSalle Street Capital. The fund wanted to reduce its number of bond managers, said Ray Fleming, retirement fund administrator. Callan Associates assisted.
DEERFIELD, Ill. -- Premark International hired Putnam to manage $13.5 million in international equity for its defined benefit plan. DeMarche Associates assisted. The plan has $288 million in assets, according to Money Market Directory.
St. Louis Cardinals
ST. LOUIS -- The St. Louis Cardinals baseball team employees selected Principal Financial Group as bundled provider for a new 401(k) plan. The plan will cover about 200 employees, excluding players, and will provide eight investment choices.
Suiza Foods Corp.
DALLAS -- Suiza Foods Corp. hired MFS Investment Management as bundled provider for a new 401(k) plan. The plan will have $40 million to start, all from several smaller plans of companies recently acquired by Suiza.
MFS will provide administration, record keeping and eight diversified investment funds in addition to Suiza company stock.
Bell Financial Group assisted.
Texas County & District
AUSTIN, Texas -- The $5.5 billion Texas County & District Retirement System hired its first equity manager in a move to create an equity exposure of 30%of total assets. The plan had been 100%invested in-house in long-term bonds.
Barclays Global Investors will run 5%of the fund in an S&P 500 index fund. The funding will come from new contributions, said Terry Horton, director.
Trustees are examining other types of equity portfolios; nothing more will be decided until at least July, he said. Wilshire is assisting.
Times Mirror Co.
LOS ANGELES -- The Times Mirror Co. hired Bankers Trust to manage a $60 million core international equity portfolio for its $1 billion defined benefit plan. Funding came from existing managers, none of which was terminated, said Silva Saak, pension analyst.
University of Cincinnati
CINCINNATI -- The University of Cincinnati endowment fund hired The RREEF Funds to manage a $12 million portfolio of real estate investment trust securities, said Linda Graviss, assistant treasurer. Funding came a reallocation of the $680 million endowment's assets, said Ms. Graviss.
Wisconsin Public Service
GREEN Bay, Wis. -- Wisconsin Public Service Corp. hired Oechsle International as the first core international equity manager for its $100 million Health and Welfare Fund. Oechsle will run $10 million in a commingled portfolio. Becker, Burke assisted.
The company also hired RCM Capital as a small-cap growth manager for its $150 million nuclear decommissioning trust. RCM initially will run $5 million, which willgrow to $10 million before the end of the year. Mercer assisted.
West Virginia Investment
CHARLESTON, W. Va. -- The $4.5 billion West Virginia Investment Management Board selected its first equity managers.
State Street Global Advisors will manage $450 million in an S&P 500 index portfolio and another $225 million in an EAFE index portfolio.
The remaining $225 million will go to a U.S. small-cap value index fund with Dimensional Fund Advisors, said H. Craig Slaughter, executive director.
Summit Strategies assisted.