Rexnord LLC, Milwaukee, is adding the Prudential Total Return Bond Fund to the investment options lineup of its 401(k) plan, said Eric Green, director of benefits.
The domestic fixed-income fund managed by Prudential Fixed Income replaces the PIMCO Total Return Fund, from which participants will be mapped to the new fund.
Mr. Green did not give a reason for the change, but multiple plans have been removing the Pacific Investment Management Co. fund since the departure of William H. Gross, PIMCO’s co-founder and chief investment officer, on Sept. 26 to join Janus Capital Group.
The change is effective Dec. 31.
The plan has 16 investment options and a Wells Fargo target-date fund lineup.
As of Dec. 31, 2013, the Rexnord LLC 401(k) plan had $374 million in assets, according to the company’s most recent Form 5500 filing.
