Teamsters, Local 469 Pension Fund, Hazlet, N.J., hired...
Teamsters, Local 469 Pension Fund, Hazlet, N.J., hired Nicholas-Applegate to run $15 million in large-cap growth U.S. equity and Smith Breeden to run $21 million in domestic fixed income, said Fred Potter, administrator for the $150 million fund. Funding comes from a $56 million large-cap value U.S. equity portfolio previously managed by Brandywine, which was terminated because of unsatisfactory performance, Mr. Potter said. The remaining $20 million from that portfolio probably will be allocated to Prudential Investments for an as-yet undetermined portfolio, he added. Larry Pokora, director of marketing for Brandywine, declined to comment.