The J. Paul Getty Trust, Los Angeles, is adding new investment options to its two 401(k) plans, said Trust spokeswoman Julie Jaskol.
The plans are adding three new options, effective Nov. 2: the American Funds EuroPacific Growth Fund; the Metropolitan West Total Return Bond Fund, managed by Metropolitan West Asset Management, and the Templeton Global Bond Fund, managed by Franklin Templeton InTempleton Investments. They are not replacing any current funds. Both 401(k) plans have the same investment options.
The plans are also adding new funds to replace current funds, from which participants will automatically be mapped:
- A domestic smidcap growth equity fund managed by Dreyfus and subadvised by Boston Co. Asset Management is replacing a domestic small-cap equity fund managed by Kornitzer Capital Management;
- A diversified real estate fund managed by Principal Global Investors is replacing a passive real estate investment trust fund managed by Vanguard Group;
- A domestic large-cap value equity fund managed by Invesco is replacing a domestic large-cap value equity fund managed by Vanguard Group; and
- A domestic small-cap value equity fund managed by Victory Capital Management is replacing a domestic small-cap value equity fund managed by Perkins Investment Management.
Other fee changes and fund changes did not involve any changes of managers.
The J. Paul Getty Trust Employee Investment Plan had $100 million in assets and the J. Paul Getty Trust Defined Contribution Retirement Plan had $48 million in assets, both as of Dec. 31, according to the trust’s most recent Form 5500 filings.
Ms. Jaskol was unable to provide further information by press time.