Kohl's Corp., Menomonee Falls, Wis., is monitoring the Putnam International Equity fund and added the Oppenheimer Developing Markets and American Funds Euro Pacific Growth funds as investment options in its $220 million 401(k)/profit-sharing plan, said Doug Wilcox, director of benefits. Trustees wanted to diversify the plan's international equity offerings in light of market-timing allegations involving Putnam international equity mutual funds, Mr. Wilcox said.
Trustees decided not to drop the Putnam fund because "we think Putnam will survive this, and go on to be a player in the defined contribution market place," he said.
Laura McNamara, Putnam spokeswoman, did not comment by press time.
The plan offers 12 investment options. Putnam is the record keeper.