Yankee Atomic Electric Nuclear Decommissioning Trust, Bolton, Mass., plans to nearly double its equity allocation in the next 11/2 years, said Timothy S. Conry, treasury manager for the $130 million fund. The fund, now 30% equity and 70% fixed income, plans to change the allocation to 50-50.
In about a year, it might consider adding more investment managers, Mr. Conry said. At least until then, it will use Mellon Capital for equities and M.D. Sass for fixed income.
Washington State Deferred Compensation Program, Olympia, will shift about $350 million of internally managed stable value assets to the Washington State Investment Board in Olympia after the December retirement of Leroy R. Driesbach, program administrator. Anne Holdren, program manager, will assume most of Mr. Driesbach's duties.
BankAmerica International Investment Corp., the private equity investment vehicle for Bank of America in Latin America, acquired a 22% stake in Caracas, Venezuela-based Organizacion Rescarven. Terms were not disclosed. This investment will allow Rescarven, an integrated health services company, to develop pension and health plans under Venezuela's pending social security law, expected to pass the Legislature in the new year.