ASSET OWNERS

L.A. City Deferred Comp Plan drops 4 investment options

Los Angeles City Deferred Compensation Plan is removing four investment options from its fund lineup, effective April 20, confirmed plan manager Steven Montagna.

As part of the $3.3 billion 457 plan's effort to reduce the number of core options, the plan is removing the Hartford Capital Appreciation Fund, American Funds Growth Fund of America, American Funds Investment Company of America Fund and Lazard U.S. Mid-Cap Equity Fund.

Assets from the American Funds and Hartford funds will be transferred into the Vanguard Institutional Index Fund, which the plan has renamed the DCP Large-Cap Stock Fund. Assets from the Lazard fund will be transferred into the Vanguard Mid-Cap Index Fund, which is being renamed the DCP Mid-Cap Stock Fund.

The retirement plan is also merging the Vanguard Total Bond Market Index Fund and the PIMCO Total Return Fund into the new DCP Bond Fund, with each manager overseeing 50% of the fund.

The changes give the plan a total of 13 investment options, according to Mr. Montagna. Investment consultant Mercer assisted. Great-West Retirement Services is the record keeper.