Franklin Resources Inc., San Mateo, Calif., added the Wells Fargo Stable Value collective investment trust to the investment options lineup of its 401(k) plan during 2018, the money manager disclosed Thursday in an 11-K filing with the SEC.
Managed by Wells Fargo Asset Management, it is the fifth CIT to be offered in the plan and had $89 million in assets in the plan as of Dec. 31. The other four CITs are all passive trusts managed by State Street Global Advisors. The plan did not offer a stable value option in 2017.
As of Dec. 31, the Franklin Templeton 401(k) plan had $1.3 billion in assets. Aside from the CITs offered in the plan, there are 21 mutual fund options and a target-date fund lineup, all managed by Franklin Templeton.
Company spokeswoman Rebecca Radosevich could not be immediately reached to provide further information.
