Carolina Power & Light Co., Raleigh, N.C., hired two managers to add two investment portfolio options for its more than $600 million 401(k) plan, said Donald F. Ray, project business analyst.
Capital Research will offer its Euro-Pacific fund; Putnam will offer its New Opportunities aggressive growth fund. The moves bring to five the total investment choices offered by the plan. LCG Associates assisted with the changes. The three existing investment choices are a GIC-type fund offered by IDS, and a balanced fund and an equity fund, both offered by Fidelity. Mercer will continue as record keeper and Wachovia as trustee.