FirstEnergy streamlines; fund consolidation will cut some money managers

FirstEnergy Corp. expects to decrease its number of money managers as it consolidates the Centerior Energy Corp. and Ohio Edison Co. pension funds. There are 22 money managers at Centerior and 13 money managers at Ohio Edison. A decrease of the seven international, 11 domestic equity and nine fixed-income managers will take place after major asset allocation and asset/liability studies are completed in Jun 1998.