Tennessee 401(k) and 457 Deferred Compensation Program, Nashville, is adding the Brown Capital Management Small Company Fund as an investment option, according to a letter to participants posted on the website of David H. Lillard Jr., state treasurer, who oversees the program.
The program is dropping the Fidelity Stock Selector Small Cap Fund. Participants invested in that fund automatically will be mapped to the Brown Capital Fund on Dec. 9.
As of Sept. 30, 2012, the 401(k) plan had $1.5 billion in assets, and the 457 plan had $224 million in assets, according to Pensions & Investments data. The plans share 15 investment options along with a target-date fund lineup and brokerage window.
Blake Fontenay, spokesman for Mr. Lillard, was not available to provide further information by press time.