Wisconsin Deferred Compensation Program, Madison, will drop Seligman Capital Fund, a midcap growth equity mutual fund, as one of its 13 investment choices for its $823 million fund, said Mary E. Willett, director-supplemental retirement plans. The program will give participants until the end of 1999 to reallocate their money.
The program is dropping the fund because it has been underperforming its benchmark and because the program represents too large a portion of the fund's total assets. Participants have $37.6 million in the fund, representing 12% of total assets. J&W Seligman officials couldn't be reached for comment.