San Diego County Deferred Compensation Program added the T. Rowe Price Mid-Cap Value Fund as an investment option in its $971 million 457 plan and $686 million 401(a) plan, said Phillip Blair, deferred compensation manager.
The active domestic midcap value equity fund managed by T. Rowe Price Group, which was added to the plan on May 16, replaced the Fidelity Low-Priced Stock Fund, a similar fund managed by Fidelity Investments.
Participants in the old fund were automatically mapped to the new fund.
Mr. Blair said the Fidelity fund was removed from the lineup due to a combination of performance issues and style drift.
The T. Rowe Price Mid-Cap Value Fund currently has $35 million in combined assets in both plans. The plans share a lineup of 19 investment options.
Fidelity spokeswoman Kate Stover declined to comment.