Updated with correction
Flagstar Bancorp Inc., Troy, Mich., added the MFS New Discovery Fund to the investment options lineup of its 401(k) plan.
The active domestic small-cap growth equity fund managed by MFS Investment Management, which the plan added in 2019, had $4 million in assets in the plan as of Dec. 31, according to the company's June 26 11-K filing with the SEC.
Also during 2019, the plan removed the Fidelity Small Cap Discovery Fund, an active domestic small-cap equity fund; and the Fidelity Low-Priced Stock Fund, an active domestic midcap value equity fund, both managed by Fidelity Investments. Those funds had $5 million and $4 million, respectively, in assets in the plan as of Dec. 31, 2018, according to the company’s prior 11-K filing.
Spokeswoman Susan E. Cherry-Bergesen said in an email the funds were removed to simplify the plan’s lineup.
As of Dec. 31, the Flagstar Bank 401(k) Plan had $286 million in assets, according to the new 11-K filing. As of that same date, the plan had 22 individual investment options, a common stock fund and a target-date fund lineup managed by Fidelity.
