Anchorage (Alaska) Municipal Deferred Compensation Plan placed INVESCO Funds Group, Strong Capital and Janus Capital on watch in response to market-timing investigations involving the three firms, as well as fund management changes at Janus, said Daniel Moore, municipality treasurer. The $140 million 457 plan offers the INVESCO Dynamics, Strong Opportunity and Janus Worldwide and Balanced funds, Mr. Moore said. Trustees in late January will review a shortlist of funds to potentially replace the INVESCO and Janus offerings, he said. Trustees will wait to see if Strong Capital is purchased before taking action against the Strong fund, he said. New funds might be selected by March. Callan Associates will assist.
Bill Hensel, spokesman for INVESCO parent AMVESCAP, and Drew Wineland, spokesman for Strong, declined comment. Janus spokesman Paul Lederhos did not return a call seeking comment.
The plan offers 17 investment options. Great-West is the bundled provider.