SAP America Inc., Newtown Square, Pa., added the Wells Fargo Special Small Cap Value collective investment trust to the investment options lineup of its 401(k) plan in 2020.
As of Dec. 31, the active domestic small-cap value equity CIT managed by Wells Fargo Asset Management had $7 million in assets in the plan, according to the company's 11-K filing with the SEC on Monday.
A comparison of this year's and last year's 11-K filings show the plan removed a mutual fund with a similar strategy from the lineup in 2020.
As of Dec. 31, 2019, the PGIM QMA Small Cap Value Fund, an active domestic small-cap value equity fund managed by PGIM Investments and subadvised by QMA had $8 million in assets in the plan, according to the prior 11-K filing.
The new 11-K filing did not provide a reason for the change.
As of Dec. 31, the SAP America Inc. 401(k) Plan had $6.7 billion in assets, according to the new 11-K filing.
Spokesman Justin Wolz could not be immediately reached for further information.
