Orange County Water District, Fountain Valley, Calif., added the MFS International Growth Fund to the investment options lineup of its $30 million 457 plan.
The active international growth equity fund managed by MFS Investment Management was scheduled to be added to the lineup Nov. 14, according to Oct. 25 retirement committee meeting materials.
It replaces the Invesco International Diversified Fund. The district's board of directors at its Sept. 7 meeting approved the removal of the active international growth equity fund managed by Invesco due to underperformance, recently released meeting minutes show.
Invesco spokeswoman Jeaneen Terrio declined to comment.
Investment consultant Sutherland Retirement Group of Wells Fargo Advisors assisted.
Stephanie Dosier, OCWD's director of human resources, could not be immediately reached to provide further information.