The Montana Public Employee Deferred Compensation Plan, Helena, will add the Hotchkis and Wiley Midcap Value and American Funds New Perspective funds as investment options in the $240 million 457 plan, said Mike O'Connor, executive director. The plan will drop the Strong Opportunity and Janus Worldwide and Balanced funds, Mr. O'Connor said. The Strong fund had been on watch for more than a year for underperformance, according to minutes of the investment advisory council's March meeting. The Janus Worldwide fund will be dropped "for a combination of legal issues" and for not meeting investment policy criteria; the Balanced fund will be dropped "for compliance and performance issues," according to the minutes. The new funds will be available May 1. The plan will offer 22 funds, down from 23. Great-West is the third-party administrator. Arnerich Massena assisted.
Drew Wineland, Strong Capital spokesman, declined to comment. Shelley Peterson, spokeswoman for Janus, did not return calls seeking comment by press time.
