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London-Based Reed Elsevier Pulls Mutual Funds from 401(k) Offerings.
Byline: Jason Roberson
Nov. 14--MIAMI TWP., Ohio--Reed Elsevier Group, parent company of LexisNexis, is among the latest company to pull mutual funds from its employees' 401(k) plan offerings because of timing trades in those funds.
The investment and employee benefits committees at London-based Reed Elsevier notified employees at Miami Twp.-based LexisNexis last week that the Janus Worldwide Fund and the Putnam OTC & Emerging Growth Fund will be replaced at the end of the year.
There appeared to be some "activity in one of the funds that is being replaced, but not on behalf of Reed Elsevier or any of its employees," said Steven B. Edwards, …
