BANKING/FINANCE
Compiled by James S. Granelli, Times staff writer
The web of subsidiaries under Pacific Mutual Life Insurance in Newport Beach has grown by one with the creation of Cadence Capital Management, which will manage two stock portfolios.
One portfolio managed by Cadence Capital, based in Boston, invests in companies worth $100 million or more, based on the market value of their stock, and the other invests in companies worth $50 million to $500 million.
Cadence, a direct subsidiary of Pacific Financial Asset Management Corp., put $20 million into the two portfolios.
