Hub Group Inc., Oak Brook, Ill., overhauled the investment options lineup of its 401(k) plan in 2020.
The changes include the addition of a series of 11 target-date funds managed by BlackRock.
As of Dec. 31, those funds had a total of $92 million in assets in the plan, according to the company's 11-K filing with the SEC on June 29.
A comparison of this year's 11-K filing and last year's filing shows the plan removed a similar series of target-date funds managed by Fidelity Investments during 2020.
As of Dec. 31, 2019, the series of 13 Fidelity Freedom funds had a total of $70 million in assets in the plan, according to the prior 11-K filing.
The comparison further shows the plan added 14 other individual investment options during 2020 and removed 14 options.
Of those added, the funds with the most assets in the plan as of Dec. 31 according to the new 11-K filing were the AmericanFunds EuroPacific Growth Fund, an active international equity fund managed by Capital Group (with $6 million in assets in the plan), the American Century Mid Cap Value Fund, an active domestic midcap value equity fund managed by American Century Investments ($4 million), and the American Funds Balanced Fund, an asset allocation fund managed by Capital Group ($3 million).
Of those removed, the funds with the most assets in the plan as of Dec. 31, 2019, according to the prior 11-K filing, were the Invesco Diversified Dividend Fund, an active domestic large-cap value fund (with $3 million in assets in the plan), and the MFS Mid Cap Value Fund, an active domestic midcap value equity fund managed by MFS Investment Management ($2 million).
The new 11-K filing did not provide a reason for the changes.
As of Dec. 31, the Hub Group Employee Profit Sharing and Trust Plan had $192 million in assets, according to the new 11-K filing.
Company spokeswoman Jennifer Telek could not immediately provide further information.
