The $550 million Knight-Ridder Inc. defined benefit plan, Miami, is increasing its allocation to large cap-growth stocks, adding $20 million to BZW Barclays Global Advisors' account, which had been $80 million, said Jerry Marshall, assistant vice president-financial services.
Funding will come from reducing allocations to, but not terminating, three large-cap value managers. This move is part of the fund's effort to raise its large-cap growth allocation to 60% of equities from 50%. In all, the fund has about 60% of its assets allocated to equities.
Stratford Advisory Group assisted in the allocation change.