Fresno County (Calif.) Deferred Compensation Plan is removing the First Eagle Overseas Fund, a foreign large-cap blend equity fund managed by First Eagle Investment Management, from its investment lineup, an announcement on the plan's website said.
Assets in the First Eagle fund will be mapped to the Ivy International Core Equity Fund, an existing investment option managed by Ivy Investment Management, after the markets close on Jan. 23.
The fund change follows the hiring of Nationwide Retirement Solutions as the plan's bundled provider. Nationwide will replace Great-West Retirement Services, now known as Empower Retirement, on Jan. 26.
The 457 plan has about $195 million in assets.
David Joseph, county personnel analyst, could not immediately be reached for additional information by pres time.