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Defined Contribution

Goldman Sachs drops 7 proprietary options from 401(k) investment lineup

Goldman Sachs has removed seven proprietary investments from the Goldman Sachs 401 (k) Plan, according to the company's 11-K filing June 29 with the Securities and Exchange Commission.

The aggregate amount of assets in these options was $773 million in a plan that had total assets of $6.79 billion as of Dec. 31, according to the 11-K.

Effective April 4, the following investment options were removed: Goldman Sachs Short Duration Government Fund, Goldman Sachs Core Fixed Income Fund, Goldman Sachs Large Cap Value Fund, Goldman Sachs Strategic Income Fund and Goldman Sachs Mid Cap Value.

Effective June 6, the plan removed the Goldman Sachs High Yield Fund and Goldman Sachs Emerging Markets Equity Fund.

The 11-K gave no reason for the actions, and it didn't identify where the assets of the discontinued funds were transferred.

"Decisions regarding the investment options in our 401(k) Plan are made by a fiduciary committee called the Retirement Committee," Andrew Williams, a Goldman Sachs spokesman, wrote in an email. "One of the goals of the Retirement Committee is to diversify the offerings to 401(k) Plan participants by manager, style and asset class."

The committee "regularly reviews the investment options available under the 401(k) Plan and adds or subtracts investment options," Mr. Williams wrote. "A decision by the Retirement Committee to add or remove any investment option in the 401(k) Plan should not be taken as a statement regarding how the firm views any asset manager or investment fund."