Papa John's International Inc., Louisville, Ky., added two domestic equity funds to the investment options lineup of its 401(k) plan in 2020.
As of Dec. 31, the actively managed BlackRock Mid-Cap Growth Equity Fund and the Vanguard Small-Cap Value Index Admiral Fund, a passive fund managed by Vanguard Group, had $5 million and $1 million, respectively, in assets in the plan, according to an 11-K filing with the SEC on Thursday.
A comparison of this year's and last year's filings shows the plan removed the DFA U.S. Targeted Value Fund, an active domestic small-cap value equity fund managed by Dimensional Fund Advisors. That fund had $1 million in assets in the plan as of Dec. 31, 2019, according to the prior 11-K filing. The plan also removed a large-cap growth equity separate account managed by Principal Global Investors, which had $3 million in assets in the plan as of Dec. 31, 2019.
The new 11-K filing did not provide reasons for the changes.
As of Dec. 31, the Papa John's International Inc. 401(k) Plan had $86 million in assets, according to the new 11-K filing.
Papa John's officials could not be immediately reached for further information.