Cincinnati Financial Corp., Fairfield, Ohio, added two domestic equity investment options to the fund lineup of its 401(k) plan in 2018, the company disclosed in an 11-K filing with the SEC on Thursday.
The plan added the Wells Fargo Special Small Cap Value Fund and Wells Fargo Special Mid Cap Value Fund, which had $9 million and $7 million, respectively, in assets in the plan as of Dec. 31 and are managed by Wells Fargo Asset Management, according to the filing.
Also in 2018, the plan removed the AllianzGI NFJ Small-Cap Value Fund, managed by Allianz Global Investors, and the Goldman Sachs Mid Cap Value Fund, managed by Goldman Sachs Asset Management, which had $12 million and $8 million, respectively, in assets in the plan as of Dec. 31, 2017, according to the previous 11-K filing.
The reason for the changes was not provided.
As of Dec. 31, the Cincinnati Financial Corp. Tax-Qualified Savings Plan had $564 million in assets, according to the new 11-K filing. As of that same date, the plan had 19 investment options, a common stock fund, a self-directed brokerage option and a target-date fund lineup managed by Fidelity Investments.
Betsy Ertel, company spokeswoman, said in an email the company’s benefits committee regularly reviews the investment performance of funds, and those replaced were on watch until the committee decided to replace those funds and map them to the newly added funds. A spokeswoman at Goldman Sachs could not immediately provide comment. Megan Frank, Allianz Global Investors spokeswoman, could not be immediately reached to provide comment.