San Francisco City & County Employees' Retirement System will review the manager lineup for its $954 million 457 plan at its Dec. 3 board meeting, said Clare Murphy, executive director. Domestic equities managers are: AIM, Ariel, Citizens, ING, J.P. Morgan Fleming, T. Rowe Price, Janus and Vanguard. International equities managers are Janus, ING and Morgan Fleming. Domestic bond managers are Janus and ING. The market-timing issues involving Janus will be a factor in reviewing that firm, she said. Mercer Investment Consulting is assisting.
Separately, Maine State Deferred Compensation Plan on Dec. 2 will review the mutual fund market-timing scandal and discuss possible changes, said Terry Meehan, plan administrator. The $188 million 457 plan continues to offer four Janus funds, as well as the Putnam International Growth fund; Putnam Investments faces civil fraud charges related to the scandal. Hartford, ING Financial and VALIC Retirement are the three providers; each offers 17 investment options.
Also, the International Association of Machinists National Pension Fund, Washington, plans to look into a PBHG fund offered as an investment option in its $8.4 million 401(k) plan, said Mary Cusick, CFO. The action comes after fund manager Pilgrim Baxter was linked to an investigation into mutual fund market timing. Plan officials and CitiStreet, the plan's administrator, have not set a date for discussions, she said. Ms. Cusick would not provide further details.