The Montana Public Employee Deferred Compensation Plan, Helena, might drop the Janus Midcap Value fund as an investment option, as a result of an investigation into Janus Capital in response to market-timing allegations against the firm, said Mike O'Connor, executive director of the $208 million 457 plan. Investment consultant Arnerich Massena, which is conducting an annual review of the plan's 20 investment options, was asked by plan trustees to pay particular attention to the Janus fund, Mr. O'Connor said. Arnerich Massena will present its findings to the board March 11. If the fund is dropped, a replacement probably will be sought, he said.
Shelley Peterson, Janus spokeswoman, did not respond to a request for comment by press time.