Best Buy Co. Inc., Richfield, Minn., added the BlackRock Russell 2000 Value Index Fund to the investment options lineup of its 401(k) plan.
The passive domestic small-cap value equity fund had $60 million in assets in the plan as of Dec. 31, according to the retailer's June 26 11-K filing with the SEC.
The fund replaced the Frontier Phocas Small Cap Value Fund, effective May 31, 2019, according to the filing. Participants in the old fund were automatically mapped to the new fund.
The active domestic small-cap value equity fund managed by Frontegra Asset Management had $49 million in assets in the plan as of Dec. 31, 2018, according to the company’s prior 11-K filing.
The new 11-K filing did not provide a reason for the change, but the old fund has since been liquidated.
As of Dec. 31, the Best Buy Retirement Savings Plan had $2.3 billion in assets, according to the new 11-K filing.
Best Buy officials could not be immediately reached for further information.
