jbs6
Joined: 06 Jan 2007
Posts: 1
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 Posted:
Sat Jan 06, 2007 9:55 pm Post subject:
401k Question |
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Hi all,
Through a company buy-out, I recently found myself working for a new company that has a different 401k plan. As I've started to pay attention to the pricing and performance of the funds I selected to funnel money into, I've noticed that the share price of each of the publicly available funds (those with ticker symbols) that are offered through the 401k have different prices from those listed on the 401k plan's website. For example, one of the funds that I have the choice of investing in is the Oppenheimer Global Fund (OPPAX). This fund's share price as obtained through yahoo currently is listed as $73.22, whereas the 401k plan's website lists the fund price as $81.89... That's a huge difference in price!
I called the company that provides the 401k plan and asked why there was such a discrepancy in the prices that they list versus the actual fund's price, and I got this wierd half-answer that I'm not actually invested in the real Oppenheimer fund, but instead a fund offered by the company that provides the 401k that manages somehow to track the performance of the Oppenheimer fund. This alone doesn't make too much sense to me.
What I really have a problem with is the fact that the company misrepresents this fund as being *the* Oppenheimer fund. No where in any documentation that I've been able to find does it explain that it isn't the fund. My question to you all is whether this is actually legal? It seems to be some huge SEC violation or something. I'm not a lawyer nor an investment guru, so I'd like some input from you all as to what I should be doing about this.
Thanks
-JBS6
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