Best Buy Co Inc., Richfield, Minn., added the BlackRock MSCI ACWI ex-U.S. Index fund and Meridian Small Cap Growth fund as investment options in its 401(k) plan during 2018, the company disclosed in its 11-K filing with the SEC.
The passive international equity fund managed by BlackRock and the active domestic small-cap growth equity fund managed by ArrowMark Colorado Holdings had $85 million and $59 million, respectively, in assets in the plan as of Dec. 31, according to the June 21 filing.
Also during 2018, the plan removed the PGIM Jennison Small Company fund, an active domestic small-cap growth equity fund managed by PGIM Investments and subadvised by Jennison Associates. The fund had $68 million in assets in the plan as of Dec. 31, 2017, according to the previous 11-K filing.
As of Dec. 31, the Best Buy Retirement Savings Plan had $1.8 billion in assets, according to the new 11-K filing. The plan had nine investment options, a common stock fund and a target-date fund lineup managed by an undisclosed manager.
Best Buy officials could not be immediately reached to provide further information.