Dillard’s Inc., Little Rock, Ark., added ClearBridge Investments’ small-cap growth fund to the investment lineup of its 401(a) plan, said a transition guide from Wells Fargo Bank, the plan’s record keeper.
Dillard’s Investment & Employee Stock Ownership Plan had about $1.4 billion in assets as of Dec. 31, according to the company’s most recent 11-K filing.
The ClearBridge fund replaces the small-cap growth fund of Fred Alger Management, which had about $8.6 million in participant assets as of Dec. 31. The reason for the change could not be learned by press time.
The plan offers 14 individual fund options along with a series of model portfolios that account for factors such as anticipated retirement age, life expectancy, income requirements and resources, inflation and potential rates of return, the transition guide said.
Dillard’s spokeswoman Julie Johnson Bull did not return a telephone call seeking additional information by press time.