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OppenheimerFunds has created a customizable investment policy statement (IPS) to enable intermediaries and plan sponsor clients to determine a number of criteria for keeping a find in a plan, such as performance statistics, manager tenure, asset size and Morningstar ratings. Most large fund company 401 (k) plan providers, such as Fidelity Investments, decline to provide an IPS and by breaking this trend, Oppenheimer is taking a chance that its proprietary funds could fall short of pre-arranged criteria, requiring a plan sponsor to remove one of its investments from a retirement program. Gregory Stitt, a spokesman, did not return calls.