ALLETE Inc., Duluth, Minn., added three new equity investment options to its 401(k) plan lineup during 2018, the company disclosed in an 11-K filing with the SEC.
The plan added the Fidelity Contrafund Fund, an active domestic large-cap growth equity fund managed by Fidelity Investments, which had $4 million in assets in the plan as of Dec. 31, according to the June 28 filing.
The plan also added two Vanguard Group funds: the Vanguard Small-Cap Index Fund and Vanguard Total International Stock Index Admiral Fund, which had $7 million and $1 million, respectively, in assets in the plan as of Dec. 31, according to the filing.
Also during 2018, the plan removed the Oakmark Equity & Income Fund, an asset allocation fund managed by Harris Associates. That fund had $26 million in assets in the plan as of Dec. 31, 2017, according to the company's previous 11-K filing.
The plan also removed during 2018 the MainStay Large Cap Growth Fund, an active domestic large-cap growth equity fund managed by New York Life Investment Management and subadvised by Winslow Capital Management. That fund had $16 million in assets in the plan as of Dec. 31, 2017, according to the previous 11-K filing.
Also during 2018, the plan removed the State Street Russell Small Cap Index Securities Lending Series Fund, a passive domestic small-cap equity CIT managed by State Street Global Advisors. According to the previous 11-K filing, the trust had $7 million in assets in the plan as of Dec. 31, 2017.
As of Dec. 31, the ALLETE and Affiliated Companies Retirement Savings and Stock Ownership Plan had $485 million in assets according to the new 11-K filing. As of that same date, the plan had 15 investment options, two common stock funds, a self-directed brokerage option and a target-date fund series.
An ALLETE spokeswoman declined to comment.
