First Union Unit Gets Pension Fund Contract
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JACKSONVILLE, Fla. — First Union’s Capital Management Group has won a contract to manage $30 million in pension funds for the city of Lake Worth, Fla.’s employee, police and firefighters.
The agreement includes all money for the employee and police portfolios, and half the firefighters’ fund.
First Union operates more than $6 billion in equity, balanced and fixed-income portfolios, including 21 public funds, officials said.
First Union National Bank of Florida is a unit of First Union Corp. of Charlotte, N.C.
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