Phoenix Employees' Deferred Compensation Board will add the MFS Value Fund to its investment options lineup.
The board, which oversees the city's $1.5 billion 457 plan, $542 million 401(a) plan and $156 million post-employment health plan, added the active domestic large-cap value equity fund managed by MFS Investment Management at its June 11 meeting, Yolanda Briseno, the board’s program coordinator, said in an email.
The board conducted a shortlist search for a fund to replace the John Hancock Disciplined Value Fund, an active domestic large-cap value fund managed by John Hancock Investment Management; that fund had been on watch for performance reasons. Anne McNally, John Hancock spokeswoman, could not be immediately reached for comment.
Ms. Briseno confirmed the MFS Value Fund will be added effective Aug. 17.
The board at the same meeting rehired Nationwide Financial as record keeper, she said. The board issued an RFP in February.