Oklahoma Public Employees Retirement System, Oklahoma City, terminated the American Century Vista Advisor investment option from its $559 million SoonerSave 457 and $141 million 401(a) savings plans for performance, confirmed Tom Spencer, executive director.
The assets in that option will be transferred to the Columbia Acorn Midcap Growth fund, managed by Columbia Management Investment Advisers.
Spokesmen at American Century were not available for comment.
The retirement system's board also approved removing American Century's Income and Growth Fund from the watchlist.
The two defined contribution plans have the same 15 investment options and a series of target-date funds offered through Vanguard.
Separately, the board reported its $6.9 billion defined benefit plan returned 8.1% in the first quarter. Domestic equities returned 13.8%; international equity, 10.4%; and domestic fixed income, 0.1%.
The fund returned 5.9% for the year ended March 31 and 4.6% for the nine months ended March 31.