Montana Public Employee Retirement Administration, Helena, added the BlackRock Advantage Small-Cap Core Fund to the fund lineup of its $219 million 401(a) plan, recently released board meeting minutes show.
The BlackRock fund replaced the PGIM QMA Small-Cap Value Fund. The change was made because of underperformance, minutes from the Aug. 13 meeting said.
PGIM spokesman Ted Smith could not be reached for comment.
Assets within the PGIM QMA fund will be moved to the BlackRock fund.
Maggie Peterson, Montana retirement administration vice president, was not immediately available to provide additional information.
