San Jose (Calif.) Deferred Compensation Advisory Committee approved the addition of the DFA U.S. Targeted Value Portfolio as an investment option in the city's $1.4 billion 457 plan.
The committee approved the addition of the active domestic small-cap value equity fund managed by Dimensional Fund Advisors at its March 21 meeting, said Amy Morton, senior benefits analyst in the city's human resources department, in an email.
The DFA fund will replace the Janus Henderson Small Cap Value Fund, a similar fund that has been on watch for underperformance. Ms. Morton said the change will likely take effect in late June.
Janus Henderson spokeswoman Nicole Mullin could not be immediately reached for comment.
As of Dec. 31, the Janus Henderson Small Cap Value Fund had $3 million in assets in the plan.
Investment consultant Hyas Group assisted.
