Chevron Corp., San Ramon, Calif., removed the Artisan Mid Cap Fund and Neuberger Berman Genesis Fund from the lineup for one of its 401(k) plans.
Participants invested in both funds were mapped to an existing fund option, the Vanguard Extended Market Index Fund managed by Vanguard Group, on Feb. 13, a notice to employees on the company’s benefits website said.
The company did not say why it was removing the domestic midcap equity fund managed by Artisan Partners Asset Management and the domestic small-cap equity fund managed by Neuberger Berman.
The removal of the funds leaves the plan with 13 core investment options, four supplemental investment options, a Vanguard target-date fund lineup and a brokerage option.
As of Dec. 31, 2013, the Chevron Employee Savings Investment Plan had $19.5 billion in assets, according to the company’s most recent 11-K filing.
Morgan Crinklaw, company spokesman, did not return phone calls by press time.
