Fox Valley Corp., Appleton, Wis., added the Calamos Growth, Vanguard Explorer, American Funds Growth Fund of America and T. Rowe Price Midcap Value funds as investment options for its five 401(k) plans, said Amy Vissers, corporate employee benefits manager. The plans, which mirror each other, dropped the MFS Massachusetts Investors Growth, Strong Opportunity and INVESCO Dynamics and Small Company Growth funds, Ms. Vissers said. Trustees decided it was their fiduciary duty to drop funds run by managers implicated in the mutual fund trading scandal, she said. Bundled provider M&I assisted.
David Oliveri, MFS spokesman, and Drew Wineland, Strong Capital spokesman, declined comment. Bill Hensel, spokesman for INVESCO parent AMVESCAP, did not respond to a request for comment by press time.
The plans offer 13 investment options. Fox Valley has $42.6 million in 401(k) plan assets, according to the Money Market Directory.