Montana Public Employees' Retirement Board, Helena, added the Prudential Total Return Bond Fund, managed by Prudential Fixed Income, as an investment option in its $121 million 401(a) plan, said Dore Schwinden, executive director.
The fund, which will be added to the investment lineup on July 31, replaces the Vanguard Total Bond Market Index Fund. The Vanguard fund is being removed for performance reasons. John Woerth, spokesman at Vanguard Group, could not immediately be reached for comment. The fund will be removed from the lineup effective Sept. 29.
The 401(a) plan has 17 investment options, including a target-date fund lineup.