Tempe, Arizona-based U.S. Airways Group has selected Fidelity Contrafund as an investment option for its four 401(k) plans, Pensions & Investments reports. Contrafund substitutes the Fidelity Magellan Fund, which has been dropped for poor performance.
The four 401(k) plans comprising the U.S. Airways Employee Savings Plan, U.S. Airways 401(k) Savings Plan for Pilots, Future Care 401(k) Plan and the U.S. Airways Puerto Rico Savings Plan have a total $2.6 billion in assets. Investment consultant Wells Fargo & Co. helped in the selection process.
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