Huntington Bancshares Inc., Columbus, Ohio, added four index funds managed by Fidelity Investments to the investment options lineup of its 401(k) plan.
The plan added the Fidelity 500 Index Fund, Fidelity Extended Market Index Fund, Fidelity U.S. Bond Index Fund and Fidelity Total International Index Fund in 2019.
The funds had $171 million, $138 million, $14 million and $12 million in assets in the plan as of Dec. 31, according to the company's June 26 11-K filing with the SEC.
The plan also added the Vanguard Treasury Money Market Fund, managed by Vanguard Group, and the PGIM Core Plus Bond Fund collective investment trust, managed by PGIM Investments, which had $56 million and $39 million in assets in the plan, respectively, as of Dec. 31.
Also during 2019, the plan removed nine investment options, according to a comparison between the new 11-K filing and last year's 11-K filing.
The plan removed three index funds: the Vanguard Institutional Index Fund, Vanguard Total Bond Market Index Fund and Vanguard Total International Stock Index Fund, which had $127 million, $9 million and $9 million in assets in the plan, respectively, as of Dec. 31, 2018, according to the prior 11-K filing.
The plan also removed the T. Rowe Price Mid-Cap Growth Fund, an active domestic midcap growth equity fund managed by T. Rowe Price Group, which had $108 million in assets in the plan as of Dec. 31, 2018.
Also removed were the Federated Hermes Treasury Obligations Fund, Federated Hermes Corporate Bond Fund and Federated Hermes Total Return Government Bond Fund, all managed by Federated Investors; the fund had $50 million, $19 million and $8 million in assets in the plan, respectively, as of Dec. 31, 2018.
The plan also removed the Invesco Oppenheimer Developing Markets Fund, an active emerging markets fund, and the PIMCO Funds Foreign Bond Fund, managed by Pacific Investment Management Co., which had $8 million and $7 million in assets in the plan, respectively, as of Dec. 31, 2018.
The new 11-K filing did not provide a reason for the changes.
As of Dec. 31, the Huntington 401(k) Plan had $1.3 billion in assets, according to the new 11-K filing. As of that same date, the plan had the one CIT option, 13 individual mutual fund options, a common stock fund and a target-date fund lineup managed by Vanguard Group.
Company spokesman Matthew Samson could not be immediately reached for further information.