Placer County Deferred Compensation Program, Auburn, Calif., is adding the J.P. Morgan Emerging Markets Equity Fund to its investment options lineup of its $104 million 401(k) plan and $73 million 457 plan.
The addition of the active emerging markets equity fund managed by J.P. Morgan Asset Management, will be effective June 29, said Joseph Morgan, risk management administrator, in a memo to the county's deferred compensation committee.
Discretionary consultant Morningstar Investment Management is adding the fund to replace the Invesco Oppenheimer Developing Markets Fund. Participants in that fund will be automatically mapped to the J.P. Morgan fund.
Mr. Morgan said in the memo that the Invesco Oppenheimer Developing Markets Fund has been "soft closed," limiting the fund's availability.
Mr. Morgan could not be immediately reached to provide further information.