Ventura County (Calif.) Deferred Compensation Fund put the Fidelity Magellan fund on watch, said Natalie Ching, deferred compensation assistant. Trustees for the 401(k) and 457 plans - which mirror each other and have combined assets of $350 million - are concerned about the fund's performance, Ms. Ching said, and will leave the fund on the watchlist for up to three years and review it quarterly, she said. Sophie Launay, Fidelity spokeswoman, said the fund has performed better than the majority of its peers in the Lipper growth fund universe over the three-, five- and 10-year periods ended Dec. 31.
The plans offers 27 investment options. Fidelity is bundled provider.