MSC Industrial Direct Co. Inc., Melville, N.Y., added the Vanguard International Growth Fund to the investment options lineup of its 401(k) plan.
The fund replaced the T. Rowe Price International Stock Fund in the lineup effective Jan. 21, spokesman Paul E. Mason said in an email.
The company’s 11-K filing with the SEC on June 29 said existing balances and future contributions to the active international equity fund managed by T. Rowe Price Group were redirected to the similar fund managed by Vanguard Group. Mr. Mason said the company had no further comment beyond the content of the filing, but said “we follow standard practices for monitoring and modifying the portfolio with the guidance of an independent investment consultant.”
As of Dec. 31, the T. Rowe Price International Stock Fund had $12 million in assets in the plan, according to the filing.
As of Dec. 31, the MSC Industrial Direct 401(k) Plan had $595 million in assets, the filing said.