IWIF announces new partnerships with minority investment firms
TOWSON,
MD—IWIF, Maryland’s largest provider of workers’ compensation insurance, has partnered with four minority-owned investment firms. Brown Capital Management, Credo Capital Management, Black Knight Asset Management and Xavier Capital Management were selected to manage portions of IWIF’s equity and fixed income portfolios.
Robert Merritt, IWIF Chief Investment Officer and Executive Vice President said, “We are pleased to be working with the outstanding managers associated with these firms. We also appreciate the participation of Asset Strategy Consultants, who assisted us during the selection process.”
IWIF is proud to comply with guidelines set forth in Senate Bill 606, passed last year by Maryland’s General Assembly. It requires IWIF’s board of directors to use, to the greatest extent feasible, minority business enterprises to provide brokerage and investment management services. The bill was sponsored by Maryland Senator Catherine E. Pugh during the 2008 legislative session.
“Our board is most supportive of this legislation and members of our executive team look forward to developing solid relationships with the investment firms and their fund managers,” says IWIF President and CEO Tom Phelan.
Currently operating in its 95th consecutive year, IWIF is a fully self-supporting insurance company that operates solely from premium and investment income.
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