San Francisco City & County Employees' Retirement System's deferred compensation program is making changes to the investment lineup in the plan, including adding three new white-label investment options, according to a notice on the plan's website.
The changes to the $2.9 billion 457 plan's investment options lineup are effective March 9. The new funds that are replacing previous funds are the SFDCP Large Cap Equity S&P 500 index fund, managed by Northern Trust Asset Management (from which a similar fund managed by Vanguard Group will be mapped), the SFDCP Large Cap Growth Equity Fund, managed by T. Rowe Price Group and Vanguard Group (replacing a similar fund managed by Fidelity Investments), the SFDCP Small-Mid Cap Equity Index Fund, managed by Northern Trust Asset Management (replacing three small-cap funds managed by Vanguard), and the SFDCP International Equity Fund managed by Capital Group and Schroder Investment Management (replacing a similar fund solely managed by Capital Group).
New funds without automatic mapping are the SFDCP Bond Index Fund and SFDCP International Equity Index Fund, both managed by Northern Trust, and the SFDCP Small-Mid Cap Equity Fund, managed by Delaware Investments, Harbor Capital Advisors, Macquarie Asset Management and Westfield Capital Management.
Once the new funds are in place, the plan will have 14 investment options.
Investment consultant Callan assisted.
Norm Nickens, board secretary, could not be immediately reached to provide further information.