Benjamin Moore & Co., Montvale, N.J., overhauled the investment options lineup of its 401(k) plan.
The Berkshire Hathaway subsidiary added seven new investment options to the lineup in 2021, according to a comparison of its 11-K filing with the SEC on June 17 and last year's filing.
Among the changes were the addition of the Fidelity 500 Index Fund, Fidelity U.S. Bond Index Fund and Fidelity Inflation-Protected Bond Index Fund, all passive funds managed by Fidelity Investments, which had $43 million, $12 million and $1 million, respectively, in assets in the plan as of Dec. 31, according to the new 11-K filing.
The plan also added the American Funds Washington Mutual Fund, an active domestic large-cap equity fund managed by Capital Group; PIMCO High Yield Fund, managed by Pacific Investment Management Co.; Gabelli U.S. Treasury Money Market Fund, managed by GAMCO Asset Management; and DFA Global Real Estate Securities Portfolio, managed by Dimensional Fund Advisors.
As of Dec. 31, the Capital Group had $15 million in assets in the plan, and the other funds each had less than $1 million in assets in the plan, according to the new 11-K filing.
The comparison of this year's and last year's filings also shows the plan removed seven investment options during 2021.
Among those funds removed were three funds managed by Vanguard Group: the Vanguard Institutional Index Fund, Vanguard Total Bond Market Index Fund and Vanguard Star Fund, which had $35 million, $15 million and $9 million, respectively, in assets in the plan as of Dec. 31, 2020, according to the prior 11-K filing.
Also removed were the T. Rowe Price Mid-Cap Growth Fund, an active domestic midcap growth equity fund managed by T. Rowe Price Group; American Beacon Large Cap Value Fund, an active domestic large-cap value equity fund managed by American Beacon Advisors; JPMorgan Mid Cap Value Fund, an active domestic midcap value equity fund managed by J.P. Morgan Asset Management; and Northern Small Cap Value Fund, an active domestic small-cap value equity fund managed by Northern Trust Asset Management.
Those funds had $18 million, $11 million, $6 million and $5 million, respectively, in assets in the plan as of Dec. 31, 2020, according to the prior 11-K filing.
The new 11-K filing did not provide reasons for the changes.
As of Dec. 31, the Benjamin Moore & Co. Deferred Savings and Investment Plan had $346 million in assets, according to the new 11-K filing.
Spokeswoman Kelly Sinatra could not be immediately reached for further information.
