SEI Investments Co., Oaks, Pa., added three index fund collective investment trusts managed by State Street Global Advisors to the investment options lineup of its 401(k) plan.
The plan in 2019 added the State Street S&P 500 Index Fund, the State Street Russell Small/Mid Cap Equity Index Fund and the SSGA Global All Cap Equity ex-U.S. Index Fund. The funds had $47 million, $5 million and $4 million in assets in the plan, respectively, as of Dec. 31, according to SEI's 11-K filing with the SEC on Friday.
Also, the plan removed the SEI S&P 500 Index Fund CIT from the lineup in 2019. That fund had $28 million in assets in the plan as of Dec. 31, 2018, according to SEI's prior 11-K filing.
The reason for the changes was not provided.
As of Dec. 31, the SEI Capital Accumulation Plan had $595 million in assets, according to the new 11-K filing. As of that same date, the plan had eight SEI-managed CITs, an SEI-managed series of target-date funds, four SEI-managed mutual funds, a self-directed brokerage account, and a stable value CIT managed by Pacific Investment Management Co., along with the three SSGA index funds.
SEI spokeswoman Leslie Wojcik could not be immediately reached for further information.