The Markets March 30, 2010

GenCorp to Restart Match Contributions

GenCorp Inc. is reinstating the employer match feature for the 401(k) plan for non-union employees.
Reported by

The Sacramento Business Journal reported that starting with payroll in July, the company will contribute the reinstated match in cash rather than in stock. GenCorp estimates the cost of the match for the rest of this fiscal year to be about $5 million, according to the news report.     

In December 2008, GenCorp Inc. announced it was freezing its defined benefit pension plan and suspending 401(k) plan match contributions for non-union employees (see “GenCorp Suspends Company Stock 401(k) Match Contribution”).      

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The Sacramento Business Journal said historically, GenCorp made a 100% match in company stock up to the first 3% of its employees’ contributions, and then a 50% match for the next 3% of employee contributions.

Products March 30, 2010

Artisan Funds Launches Global Equity Fund

Artisan Funds has announced the launch of Artisan Global Equity Fund (ARTHX).
Reported by

The fund is co-managed by Mark Yockey, leader of Artisan’s global equity team, and Barry Dargan. Yockey is the portfolio manager of Artisan International Fund and Artisan International Small Cap Fund, according to an announcement.      

Dargan recently joined Artisan from MFS Investment Management, where he was a managing director, portfolio manager of MFS International Growth Fund, and portfolio co-manager of MFS Global Growth Fund.      

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Artisan Funds are available through financial professionals, major discount brokerage no-transaction fee (NTF) platforms like Charles Schwab, Fidelity and TDAmeritrade, or on a direct basis through Artisan Distributors LLC.     

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