Lakeland, Fla., is adding the MassMutual Select Mid Cap Growth Fund, an active domestic midcap growth equity fund managed by MML Investment Advisers, to the investment lineups of its $85 million 457 plan and $13 million 401(a) plan, said Dana Blydenburgh, retirement services director, in an email.
The fund will replace the Invesco (IVZ) Mid Cap Growth Fund, a similar fund, because that fund has "not been able to generate any consistent outperformance," Ms. Blydenburgh said. Invesco spokeswoman Jeaneen Terrio could not be immediately reached to provide comment.
The plans have identical investment lineups, which consist of 22 options and a target-date fund lineup managed by Vanguard Group.
Investment consultant AndCo Consulting assisted.