Wolverine World Wide Inc., Rockford, Mich., reallocated 20% of the assets in its $100 million pension fund, said Stephen Gulis, executive vice president and CFO. Hired were Cohen, Klingenstein & Marks for an $8 million in large-cap growth stocks and Bennett Lawrence Management for an $8 million midcap growth portfolio. Assets came from a $20 million reduction in a large-cap equity portfolio managed by Freiss & Associates. The remainder of the reallocation went to existing managers. PaineWebber assisted.
Syntex USA Inc., Palo Alto, Calif., hired Morgan Stanley to manage an international equity fund for its $250 million 401(k) plan, said Susan Griswold, director-strategic financial planning and trust investments. Syntex also dropped a Fidelity balanced fund and added Fidelity Puritan fund.
Seattle City Employees' Retirement System committed $5 million to the Multi-Employer Property Trust, confirmed Roger Howeiler, executive director of the $1.1 billion fund. The commitment will be funded from cash.