Attachmate Corp., Bellevue, Wash., will drop the Fidelity Magellan fund as an investment option in its $75.4 million 401(k) plan in April because of performance, said Devora Pitzer, senior manager-tax and treasury. The fund will not be replaced because the plan already offers four other large-cap funds: Dodge & Cox Stock, Fidelity Growth & Income, American Funds' Growth Fund of America and Fidelity Spartan U.S. Equity Index. The plan currently offers 17 investment options plus Fidelity's Freedom Funds. Fidelity is bundled provider. Advisory Services and Investments assisted.
Sophie Launay, Fidelity spokeswoman, did not return a call seeking comment by press time.