H-E-B Brand Savings & Retirement Plan, San Antonio, hired Federated Investors to manage $25 million in a trade finance portfolio, said Dale Neibert, investment officer and research analyst at the $1.8 billion 401(k) plan.
Federated will be one of up to 100 managers that run assets in the plan's active balanced fund manager pool, which has about 85% of the plan's assets, said Mr. Neibert. No managers were terminated.
The plan has seven investment options: conservative, general and aggressive options under the active balance pool, and four index funds.
The trade finance strategy was chosen because it's not correlated to other strategies, provides yield and is a more global investment strategy, Mr. Neibert said.
