Carolina Power & Light Co., Raleigh, N.C., added three investment...

Carolina Power & Light Co., Raleigh, N.C., added three investment options to its $800 million 401(k)/employee stock ownership plan, effective Jan. 1, said Donald F. Ray, project business analyst. They are: a PIMCO domestic bond fund; the Vanguard S&P 500 index fund; and a Putnam domestic large-cap growth equities fund. The plan, a large portion of which is invested in company stock, also offers participants an American Express GIC fund; Fidelity Investments balanced and equity income funds; the Putnam New Opportunities aggressive growth fund; and an American Funds international stock fund. The company also may consider rebalancing its $900 defined benefit plan at its quarterly investment committee meeting next month because of the outstanding performance of its international stock managers, Mr. Ray said. The company’s three international equity managers are Nicholas-Applegate, Putnam and Templeton. The company’s defined benefit plan has a 20% target allocation to international equities, 10% to alternative investments, 47% to domestic equities, and the remainder to global fixed income.