Dunkin' Brands Group Inc., Canton, Mass., removed seven investment options from its 401(k) plan lineup.
The investment options were no longer listed in the plan's investment options lineup as of Dec. 31, according to the company's June 19 11-K filing with the SEC.
The funds, along with their respective assets in the plan as of Dec. 31, 2018, according to the prior 11-K filing, were the American Century Mid Cap Value Fund, an active domestic midcap value equity fund managed by American Century Investments, $7 million; Baron Asset Fund, an active domestic midcap growth equity fund, $7 million, and Baron Small Cap Fund, an active domestic small-cap equity growth equity fund, $5 million, both managed by Baron Asset Management; Oakmark International Fund, an active international equity fund managed by Harris Associates, $7 million; Invesco Oppenheimer Developing Markets Fund, an active emerging markets equity fund, $6 million; American Beacon Small Cap Value Fund, an active domestic small-cap value equity fund managed by American Beacon Advisors, $5 million; and Invesco Real Estate Fund, $4 million.
A spokeswoman for Dunkin’ Brands emailed a statement from the company confirming the streamlining of the company’s investment options lineup, effective in January. By Dec. 31, 2019, the assets had been removed, but the new lineup with fewer options was effective Jan. 1. The plan eliminated redundant asset classes and some of the more underutilized investment options, and also broadened the suite of target-date funds to include funds dates every five years instead of the previous 10 years. The plan also added a self-directed brokerage option, she said.
The plan had previously restructured the 401(k) plan in 2018 with the addition of five index funds managed by Fidelity Investments, as well as its first target-date fund lineup, managed by T. Rowe Price Group. Spokesman Justin Drake said in a June 2019 email that those additions had been made "primarily to reduce participant fees and expenses."
As of Dec. 31, the Dunkin' Brands 401(k) Retirement Plan had $237 million in assets, according to the new 11-K filing.