Edwards Lifesciences Corp., Irvine, Calif., added the Oppenheimer International Growth Y Fund as an investment option in its 401(k) plan.
The fund replaced the Janus Overseas I Fund effective Aug. 23. Participants in the Janus fund have been automatically mapped to the new fund.
According to a newsletter on the plan's website, the change was made because the Oppenheimer International Growth Y Fund “has shown higher historical returns with lower volatility than the Janus Overseas I Fund, and ranks highly within its peer group over numerous time periods.”
As of Dec. 31, the Edwards Lifesciences 401(k) Savings and Investment Plan had $401 million in assets, according to the company's most recent 11-K filing.
ING U.S. Retirement Services is the plan's record keeper. The plan has 17 investment options and a Vanguard Group target-fund lineup.
Edwards spokeswoman Sarah Huoh could not provide further information; Christine Z. McCauley, corporate vice president, human resources, and member of the administrative and investment committee for employee benefit plans, did not return phone calls by press time.
