Colorado Public Employees Retirement Association, Denver, selected Rainier Large Cap Growth Equity Fund, a mutual fund, replacing the GMO Large Cap Growth Fund option in its 401(k) and 401(a) defined contribution plans, said spokeswoman Katie Kaufmanis. The move was made for performance, Ms. Kaufmanis said. Combined assets for the two DC plans total about $1.7 billion; about $72 million was invested in the GMO option
GMO officials declined to comment through spokesman Tucker Hewes.
Separately, PERAs $39 billion defined benefit plan identified $256 million it has invested in eight companies determined to be in violation of its Iran investment policy, enacted in January. Plan officials have notified the companies, all petroleum-related, and could begin divesting in late June.