New York City Deferred Compensation Board selected INVESCO Dynamics for its first midcap equity fund option, which will be available to participants in its $4.3 billion 457 plan as of July 1, said Tamara Lubansky, contracts and RFP coordinator. Also on July 1, PIMCO will begin managing the plan’s $35 million core-plus bond portfolio, replacing Deutsche Asset Management, which ran intermediate-term bonds.
The plan on July 1 will eliminate the $135 million balanced mutual fund from Vanguard, replacing it with four premixed portfolios ranging from conservative to aggressive, which will be run by the plan’s current managers.