Nevada Public Employees’ Deferred Compensation Program, Carson City, is adding the MFS Value Fund, an active domestic large-cap value equity fund managed by MFS Investment Management, to its investment option lineup, said Rob Boehmer, program coordinator.
The $681 million 457 plan conducted an invitation-only search for a new fund because one of two active domestic large-cap value equity funds, the Allianz NFJ Dividend Value Fund, was on watch for performance.
The other active domestic large-cap value equity fund, the American Beacon Large Cap Value Fund, was not on watch, but Mr. Boehmer said investment consultant Segal Rogerscasey suggested consolidating the large-cap value equity option into one fund to simplify the overall fund lineup for participants, so the plan eliminated both options in favor of the one MFS option.
The change gives the 457 plan a total of 17 investment options plus a Vanguard Group target-date fund lineup.
Allianz Global Investors spokeswoman Megan Frank could not be immediately reached to provide comment.