Genworth Financial Inc., Richmond, Va., added a Russell 2000 Value Index fund managed by BlackRock to the investment options lineup of its 401(k) plan, confirmed Julie Westermann, company spokeswoman.
The fund was added this month and replaces the an active domestic small-cap value equity separate account managed by Cambiar Investors, from which participants are being mapped to the new fund. The separate account had $17 million in assets in the plan as of Dec. 31, according to the company’s new 11-K filing with the SEC on June 21. Ms. Westermann did not know the reason for the replacement.
Separately, the company disclosed in the filing that it added the Harding Loevner International Equity Fund as an investment option in its 401(k) plan lineup during 2018. The active international equity fund managed by Harding Loevner had $25 million in assets in the plan as of Dec. 31, according to the filing.
Also during 2018, the plan removed the Harbor International Fund, an active international equity fund managed by Harbor Capital Advisors and subadvised by Marathon Asset Management.
As of Dec. 31, the Genworth Financial Inc. Retirement and Savings Plan had $623 million in assets, according to the new 11-K filing. The plan had 11 investment options, a common stock fund and a target-date fund lineup managed by BlackRock as of the same date.