US Airways Group Inc., Tempe, Ariz., removed the Columbia Midcap Value Fund as an investment option in its four 401(k) plans, which have a combined $3 billion in assets, confirmed Patti Yurkovich, director, 401(k) and savings program.
The fund did not perform up to the plans' investment policy standards, according to Ms. Yurkovich. Participants' assets are being moved to the existing Columbia Midcap Index Fund.
The plan now has 24 investment options.
Columbia spokesman Ryan Lund did not return a phone call for comment by press time.