Colorado County Officials & Employees Retirement Association, Colorado Springs, selected the UMB Scout Small Cap Fund to replace the ABN AMRO/Veredus Aggressive Growth Fund as an investment option in the system's $686 million 401(a) plan and $125 million 457 plan, confirmed Jacob Kuijper, executive director.
"We were looking for a less volatile" small-cap growth equity option, Mr. Kuijper said. Poor returns were also a factor in the decision, he said. Andrea Lewis, ABN AMRO spokeswoman, said her firm does not discuss client matters. The plans, which mirror each other, have 23 investment options. Innovest Portfolio Solutions assisted.