Core Laboratories NV, Houston, added a target-date fund lineup managed by J.P. Morgan Asset Management to its 401(k) plan in 2018, the company disclosed in an 11-K filing with the SEC.
The lineup of 10 funds had a total of $57 million in assets in the plan as of Dec. 31, according to the June 24 filing.
The plan did not feature a target-date fund lineup as of Dec. 31, 2017, according to the company's previous 11-K filing. A group annuity contract with Prudential Financial had $51 million in assets as of Dec. 31, 2017, according to that filing.
The new filing also noted the company hired Fidelity Investments as its new record keeper, effective Oct. 1, replacing Prudential. Whether that was a reason for the addition of the target-date fund lineup was not provided.
Also during 2018, the plan added a stable value fund managed by Putnam Investments, which had $28 million in assets in the plan as of Dec. 31, according to the new 11-K filing.
As of Dec. 31, the Core Laboratories Profit Sharing and Retirement Plan had $182 million, according to the new 11-K filing, and had 20 investment options, a common stock fund and the J.P. Morgan target-date fund lineup.
Gwendolyn Y. Schreffler, senior vice president, corporate development and investor relations, could not be immediately reached to provide further information.