Wisconsin Deferred Compensation cutting American Beacon fund from lineup
Wisconsin Deferred Compensation cutting American Beacon fund from lineup
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Wisconsin Deferred Compensation Program, Madison, will remove the American Beacon Bridgeway Large Cap Value Fund from its investment options lineup.
The $5.9 billion 457 plan s board at its March 11 meeting approved terminating the fund managed by American Beacon Advisors and subadvised by Bridgeway Capital Management due to underperformance, said Shelly Schueller, director of the deferred compensation program, in an email.
According to a memo from Ms. Schueller included with meeting materials, the fund had $19 million in assets in the plan as of Dec. 31. Record keeper Empower Retirement will conduct a shortlist search for a replacement and present its findings at the June 10 board meeting.
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