SEARCHES & HIRINGS
Sterling Heights (Mich.) Retirement System is conducting a search for a small-cap stock manager to run $15 million.
Officials will accept proposals through Aug. 29, said Larry Amez, board president. The $152 million fund is looking for firms that have been in business for at least thre e years and manage $250 million and $750 million.
Existing managers Munder Capital, Newbold's, Brinson Partners and Morgan Grenfell and managers in consultant Merrill Lynch's database also are under consideration. A decision is ex pected at the Oct. 28 board meeting.
Annapolis (Md.) Police & Fire Retirement Fund hired Edgar Lomax to manage $5 million in large-cap equities.
The $97 million plan will fund the assignment from Lazard Freres' $37.9 million large -cap equity account. Fund officials hired Edgar Lomax to provide more diversification, said Kathleen Sulick, finance director.
Workplace Health, Safety and Compensation Commission of New Brunswick, Saint Joh n, hired Hansberger Capital Global Investors for its C$585 million (U.S.$420 million) insurance fund, said Warren H. Gerow, manager-treasury and investments. It will assign C$20 million to Hansberger for emerging markets. Funding w ill come from Morgan Stanley, which ran an emerging markets portfolio and was dropped.