BorgWarner Inc., Auburn Hills, Mich., added the Fidelity Managed Income Portfolio to the investment options lineup of its 401(k) plan in 2020.
As of Dec. 31, the collective investment trust managed by Fidelity Investments had $32 million in assets in the plan, according to the company's 11-K filing with the SEC on Monday.
The portfolio invests in various fixed-income securities, including U.S. Treasuries, mortgage-backed securities, other asset-backed securities and derivative instruments, a profile on Fidelity's website shows.
Michelle Collins, BorgWarner spokeswoman, said the addition of the Fidelity CIT is the result of the merger of the plan with the Delphi Technologies Salaried Retirement Savings Program, which was effective Dec. 31. BorgWarner’s acquisition of that firm was completed Oct. 1. No other investment options carried over from the merger of the plans.
As of Dec. 31, the BorgWarner Inc. Retirement Savings Plan had $1.8 billion in assets, according to the 11-K filing.