Astec Industries Inc., Chattanooga, Tenn., added two active domestic small-cap equity funds to the investment options lineup of its 401(k) plan in 2020.
As of Dec. 31, the Goldman Sachs Small Cap Value Insights Fund, a value fund managed by Goldman Sachs Asset Management; and the J.P. Morgan Small Cap Growth Fund, managed by J.P. Morgan Asset Management, had $3 million and $2 million, respectively, in assets in the plan, according to the company's 11-K filing with the SEC on Wednesday.
A comparison of this year's and last year's 11-K filings shows the plan also removed three funds from the investment options lineup in 2020.
As of Dec. 31, 2019, the Putnam Small Cap Value Fund, an active domestic small-cap value equity fund managed by Putnam Investments; the Pioneer Bond Fund, an active domestic core-plus fixed-income fund managed by Amundi Asset Management; and the PGIM Jennison Small Company Z fund, an active domestic small-cap growth equity fund managed by PGIM Investments and subadvised by Jennison Associates, had $4 million, $3 million and $1 million, respectively, in assets in the plan, according to the prior 11-K filing.
The new 11-K filing did not provide reasons for the changes.
As of Dec. 31, the Astec Industries Inc. 401(k) Retirement Plan had $294 million in assets, according to the new 11-K filing.
Stephen C. Anderson, senior vice president, administration and investor relations, could not be immediately reached for further information.