The $11 million-plus endowment of Garden Club of America, New York, moved to a specialist approach from a balanced one, terminating its sole manager and hiring five others.
Brundage, Story and Rose was terminated. Hired were: Conseco Capital, to manage about $4.5 million in fixed income; Argus Investors, $2.3 million in core equities; T. Rowe Price, $1.4 million in its foreign equity mutual fund; Vanguard, $2.3 million in its 500-Stock Index Fund; and Delaware, $925,000 in its Trend small-cap U.S. equities fund.
Oxford Financial Advisors assisted.
