Oklahoma Public Employees Retirement System, Oklahoma City, added the Baird MidCap Fund to its two defined contribution plans for Oklahoma public employees.
The addition comes at the expense of the Columbia Acorn Fund, which was dropped from the lineups of both the SoonerSave and Pathfinder defined contribution plans due to organizational and performance issues, said Joseph Fox, executive director of the $11.9 billion Oklahoma pension fund, in an email.
The decision to replace the Columbia Acorn Fund with the Baird fund was made at a board meeting on May 20, he said.
A spokesman for Columbia Threadneedle Investments declined to comment.
The board also decided to place the Janus Henderson Small Cap Value Fund on watch for "recent performance issues," Mr. Fox said. The fund is represented in both defined contribution plans.
Janus did not respond to an email requesting comment.
As of March 31, the SoonerSave plan had $1.3 billion in assets, while the Pathfinder plan had $163 million. Both plans are composed of a 457(b) and a 401(a) plan.