The $30 million defined benefit plan of Blue Cross and Blue Shield of Maine, South Portland, hired MFS to invest $5 million using the all-cap research-driven strategy employed by the firm's MFS Research Fund, said Peter Ventre, director-financial operations and accounting. Assets came from a reduction in a large-cap core equity portfolio. He declined to name the manager.
New England Pension Consultants assisted.
Speaking of the all-cap strategy, Mr. Ventre said he likes the idea of having more than 20 analysts choose their favorite stocks; he also likes the fund's disciplined approach to portfolio rebalancing.