Ericsson Inc., Plano, Texas, added a Vanguard target-date fund series and two new active domestic small-cap equity funds to the investment options lineup of its 401(k) plan in 2020.
As of Dec. 31, the series of 12 target-date funds managed by Vanguard Group had a total of $608 million in assets in the plan, according to the company's 11-K filing Monday with the SEC.
As of that same date, the T. Rowe Price QM U.S. Small-Cap Growth Fund, managed by T. Rowe Price Group, and the Victory Small Cap Value collective trust fund, managed by Victory Capital Management had $40 million and $30 million, respectively, in assets in the plan, according to the filings.
A comparison of the new 11-K filing and last year's filing shows the plan removed a target-date fund series managed by J.P. Morgan Asset Management and two other active domestic small-cap equity funds from the lineup in 2020.
As of Dec. 31, 2019, the series of 10 J.P. Morgan target-date funds had a total of $535 million in assets in the plan, according to the prior 11-K filing.
As of that same date, the PGIM Small Cap Value Fund, managed by PGIM Investments, and the Carillon Eagle Small Cap Growth Fund, managed by Carillon Tower Advisers and subadvised by Eagle Asset Management, had $42 million and $36 million, respectively, in assets in the plan, according to the prior filing.
The new 11-K filing did not provide reasons for the changes.
As of Dec. 31, the Ericsson U.S. 401(k) Plan had $3.5 billion in assets, according to the new 11-K filing.
Ericsson spokesman Jimmy Duvall could not be immediately reached for further information.