Colas Inc., Morristown, N.J., is adding an active domestic midcap value equity fund managed by J.P. Morgan Asset Management (JPM) to its 401(k) plan, according to a document posted on the website of subsidiary Delta Cos. Inc.
The change is effective March 21. The new fund replaces an active domestic midcap value equity fund managed by Goldman Sachs Asset Management, which the posting says has been performing “inconsistently.” Participants in the Goldman Sachs fund will be mapped to the J.P. Morgan Fund.
GSAM spokesman Andrew Williams could not be immediately reached to provide comment.
As of Dec. 31, 2015, the Colas Inc. and Subsidiaries 401(k) Savings Plan had $218 million in assets, according to the company's most recent Form 5500 filing. As of that date, the Goldman Sachs Mid Cap Value Fund had $4.5 million in plan assets.
Nathan Aycock, director, compensation and benefits at Colas, could not be immediately reached to provide further information.