Burlington Industries, Greensboro, N.C., hired its first active fixed-income manager. Wellington Management Co. was hired as part of the restructuring of the $325 million fund to 65% equities and 35% fixed-income from 100% equities, said Park Davidson, treasurer. BZW Barclays Global Investors is managing the rest of the fixed-income mandate in a passive account.
Mr. Davidson wouldn't disclose the exact size of each account, but said BZW Barclays and Wellington will split the fixed-income allocation evenly. Frank Russell assisted.