The $100 million-plus Hampden County Board of Retirement, Springfield, Mass., yesterday picked three new managers: Fidelity Investments for real estate; Dreyfus Capital to manage small-cap stocks; and Brandes as international stock manager, said Segal Advisors' Alison Ellsworth, consultant.
The system will give $3 million to Fidelity and $6 million each to Dreyfus and Brandes. While real estate is a new asset class for the system, the small-cap and international managers replace Wellington Management, which was terminated in February.
Money for the new hires will come from the Wellington assets and from reducing the allocation to a balanced fund managed by Freedom Capital.
