Brown-Forman Corp., Louisville, Ky., added three Fidelity Investments index funds and a stable value fund managed by Putnam Investments to the investment options lineup of its two 401(k) plans in 2020.
As of Dec. 31, the Fidelity 500 Index Fund, Extended Market Index Fund and International Index Fund had $66 million, $40 million and $20 million, respectively, in assets in the plans, according to the company's two 11-K filings Thursday with the SEC.
Also as of Dec. 31, the Putnam Stable Value Fund had $15 million in assets in the plans, according to the filing.
A comparison of this year's 11-K filings and last year's filings shows the plans removed three index fund collective investment trusts managed by BlackRock from the investment options lineup in 2020.
As of Dec. 31, 2019, the BlackRock S&P 500 Index CIT, S&P MidCap Index CIT and International Equity Index CIT had $54 million, $22 million and $15 million, respectively, in assets in the plans, according to the prior 11-K filings.
Also, the plan removed the J.P. Morgan Small Cap Core Fund, an active domestic small-cap core equity fund managed by J.P. Morgan Asset Management. That fund had $14 million in assets in the plan as of Dec. 31, 2019, according to the prior 11-K filings.
The new 11-K filings did not provide reasons for the changes.
As of Dec. 31, the Brown-Forman Corp. Savings Plan and Brown-Forman Corp. Savings Plan for Collectively Bargained Employees had $670 million and $39 million in assets, respectively, according to the new 11-K filings.
Company spokeswoman Elizabeth Conway could not be immediately reached for further information.
