More than half the companies offering 401(k) plans have altered the mutual fund choices available in their plans within the past year, according to the CFO Outlook survey.
The survey, conducted by Financial Executives International and Baruch College's Zicklin School of Business, found that 35% of chief financial officers questioned said changes were in pursuit of better performance, 27% wanted broader diversification, and 14% wanted funds not touched by trading abuses.
The survey, conducted this month and released Thursday, interviewed 235 corporate chief financial officers.
Colleen Cunningham, the president and chief executive officer of Financial Executives International, said in a press release that the highly public mutual fund scandals had forced companies to take a closer look at their defined contribution plans.at Dec. 31.
