City & County of San Francisco Employees' Retirement System changed two investment options in its $2.1 billion 457 plan, confirmed Carol A. Cypert, deferred compensation manager.
The retirement plan added the Vanguard Large-Cap Growth index fund and Vanguard Mid-Cap Value fund, replacing the American Funds Growth Fund of America and Columbia MidCap Value fund, which were terminated for underperformance.
The retirement plan has 18 core investment options and a suite of target-date funds.
Investment consultant Angeles Investment Advisors assisted.
Ken Masson, spokesman for American Funds' parent Capital Group, declined to comment; Columbia spokesman Ryan Lund did not return a phone call by press time.