Vanderbilt University, Nashville, Tenn., is adding an active domestic smidcap growth equity fund managed by Jackson Square Partners as an investment option in its 403(b) plan, the university announced on its website.
The fund, which the plan will add Jan. 26, replaces a similar fund managed by Delaware Investments. The website said the change is being made because the team that previously managed the Delaware fund has left that firm and joined Jackson Square to manage that firm’s smidcap growth equity fund.
Assets in the Delaware fund will automatically be mapped to the Jackson Square fund.
According to the plan’s most recent Form 5500 filing, the plan had $3.3 billion in assets and the Delaware option had $49 million in plan assets as of Dec. 31, 2015.
Erika Houser, manager, human resources communications, would not provide any information beyond the announcement.