SEATTLE - Boeing Co. is doubling the number of investment options in its $10 billion Voluntary Investment Plan, which it overhauled just more than a year ago.
Boeing will add four actively managed equity mutual funds and two passively managed equity commingled funds to its five existing, primarily passively managed, funds.
The giant aerospace and defense firm last year selected State Street Global Advisors to provide record keeping and most investment management for the 401(k)/savings plan in a move designed to lower investment management fees. (Pensions & Investments, Aug. 19, 1996).
The bulk of the plan's assets are managed by SSgA in passive commingled funds as core options.
The four actively managed funds being introduced at Boeing are: The MAS Value (equity) Portfolio; SSgA Small Cap Fund; Oppenheimer Capital Appreciation Fund; and INVESCO Science and Technology Fund.
Boeing will be adding two SSGA passively managed equity commingled funds to the four SSGA passive funds already included in the Boeing plan.
The changes are slated to become effective Nov. 17.
In another development, a Boeing spokesman said the $3.5 billion 401(k)/savings plan of McDonnell Douglas Corp., St. Louis, will be merged into the Boeing VIP plan sometime next year. Boeing recently acquired McDonnell Douglas as part of a flurry of mergers and acquisitions in the aerospace/defense industry.
Neither McDonnell Douglas nor Boeing officials would comment on the current vendor lineup in the McDonnell Douglas plan, but the 1997 Money Market Directory lists Fidelity Institutional Retirement Services, Boston, as service provider for the plan.