HIRINGS
True North Communications Inc., Chicago, hired Fidelity as bundled provider for its $170 million profit-sharing and 401(k) plan.
Thirteen investment options will be provided, of which seven are Fidelity funds: Fidelity Managed Income; Fidelity Growth & Income; Fidelity Spartan U.S. Equity Index; Fidelity Diversified International; and three lifestyle funds. Others are PIMCO Total Return; Neuberger & Berman Genesis; Oakmark Fund, managed by Harris Investments; Janus Overseas; company stock; and a self-directed brokerage option.
Previously, Mercer was the plan's administrator and record keeper and Citibank was trustee. Previous investment choices were a balanced option managed by Columbus Circle, Newbold, MacKay Shields, Templeton and Morgan Grenfell; U.S. and international bond funds managed by Brinson Partners; and a money market fund managed by Citibank.
DeMarche assisted.
New York Common Retirement Fund, Albany, added HLM Management as a small-cap domestic growth manager in its emerging manager pooled fund, confirmed H. Carl McCall, sole trustee of the $90 billion fund. HLM will receive $22 million; it replaces Apodaca Investment Group. Tina Poitevien, president of FIS Funds Management, which oversees the pooled fund, said Apodaca was replaced to reduce the fund's exposure to momentum style investing.
