Police and Firemen's Disability & Pension Fund of Ohio's trustees will meet Dec. 16 to consider changes to its $3 billion U.S. equity portfolio as a result of a review by Wilshire Associates. Alan Procter, executive director of the Columbus-based fund, said manager searches might be required to implement any changes. But he declined to speculate further on the results of the review.
The $7.2 billion fund also plans to review its U.S. bond and non-U.S. equity portfolios. Those reviews will then be followed by an emerging market manager search. No timetable has been established.
Litman/Gregory Fund Advisors, Orinda. Calif., introduced its second manager-of-managers mutual fund, the Masters' Select International Fund.
Picked to manage portfolios of between eight and 15 international stocks were Bruce Bee of Bee & Associates, for 10% of the portfolio in small-cap growth stocks; Helen Young Hayes of Janus Capital, 22.5% in large-cap growth stocks; David Herro of Harris Associates, 22.5% in value stocks of all sizes; Dan Jaworski of BPI Global Asset Management, 22.5% in large-cap value stocks; and Mark Yockley of Artisan Partners, 22.5% of the fund in all-cap growth stocks.
The Masters' Select International Fund will be closed when it has attracted between $600 million and $1 billion in assets.
Morgan Stanley Dean Witter introduced a new research service that will track performance of 28 closed-end country funds. Paul Mazzilli was named director of country fund research within the company's Equity Research division and will head the effort. He was most recently an investment banker in the Equity Capital Markets division.
Mr. Mazzilli's ``strong buy'' list includes the Brazil Fund, managed by Scudder Kemper; the Latin America Discovery Fund, managed by Morgan Stanley; the Mexico Fund, managed by Impulsora del Fondo Mexico; the Morgan Stanley India Investment Fund; and the India Fund, run by Advantage Advisers.
HOLT Value Associates and Deloitte & Touche Consulting Group formed a joint venture to offer HOLT's company valuation process to corporate clients. The venture, called Deloitte/HOLT Value Associates, seeks to give the top managers of public companies a way to gauge the impact of their decisions on their company's stock price.
Robert Fleming Holdings and GUTA BANK are forming a joint venture to offer a domestic mutual fund to Russian investors. The new company would be called Fleming GUTA Investment Co. ZAO. Fleming already manages more than $600 million in Russian securities on behalf of international investors.
