Colorado Public Employees’ Retirement Association, Denver, is changing the investment lineup of its defined contribution plans, said spokeswoman Katie Kaufmanis, in an e-mail.
Two new underlying funds — the WellsCap Montgomery U.S. Core Fund, managed by Wells Capital Management, and the BlackRock CoreAlpha Bond Fund — will be added to the PERAdvantage Fixed Income Fund option in mid-January. Currently, the fund is 100% invested in the BlackRock U.S. Debt Index Fund. In January, the new allocation will be 50% WellsCap Montgomery U.S. Core and 25% each, BlackRock Core Alpha and BlackRock U.S. Debt Index funds.
The new allocation will improve the fund’s diversification, Ms. Kaufmanis wrote.
Also, a new target-date fund, the PERAdvantage 2060 Fund, will be added to the investment lineup, effective Jan. 31. The 2060 Fund will be the default investment option for new participants who were born on or after Jan. 1, 1993, and do not make an investment selection.
BlackRock manages the retirement association’s target-date series.
The retirement association’s 401k, 457 and 401(a) plans have about $3.4 billion in combined assets.