Popular Inc., Hato Rey, Puerto Rico, added the J.P. Morgan Mid Cap Value Fund to the investment options lineups of its two 401(k) plans.
The active domestic midcap value equity fund managed by J.P. Morgan Asset Management, added in 2019, had a total of $22 million in assets in the two plans as of Dec. 31, according to the company's June 26 11-K filings with the SEC.
Also during 2019, the plans removed the Lord Abbett Value Opportunities Fund from the plans' lineups. That active domestic midcap value equity fund managed by Lord Abbett & Co. had a total of $19 million in the plans as of Dec. 31, 2018, according to the company's prior 11-K filings.
The new 11-K filings did not provide a reason for the change.
As of Dec. 31, the Popular Inc. Puerto Rico Savings and Investment Plan and Popular Inc. U.S.A. 401(k) Savings and Investment Plan had $463 million and $112 million in assets, respectively.
Spokeswoman Teruca Rullan could not be immediately reached for further information.